David Weinreb Lists West Chelsea Home For $75M

Four years later and $25 million more expensive, a West Chelsea penthouse is back on the market.

Former Howard Hughes CEO David Weinreb is listing his home at 551 West 21st Street for $75 million, the Wall Street Journal reported.

The former real estate executive bought the condominium as raw space for $38 million in 2017.

Weinreb initially listed the unit for $50 million in 2021, but took it off the market after 10 months to complete the space. “I believed in the design and knew that completing it was the right thing for the home,” Weinreb told the Journal in an email.

Compass’ Clayton Orrigo and Stephen Ferrera of the Hudson Advisory Team have the listing.

The five-bedroom home includes a kitchen designed by French chef Jean-Georges Vongerichten and a 61-foot swimming pool atop a 4,600-square-foot private terrace that overlooks the Hudson River.

The apartment spans 6,400 square feet with floor-to-ceiling windows throughout.

Sources previously told the New York Post that Weinreb could spend another $20 million on the build-out after he had first listed it.

The Foster + Partners-designed building includes a private gated courtyard, fitness center, yoga room and lounge.

The listing aims to break the downtown sales record, set only a month ago by a unit at 150 Charles Street that went for $60 million in March.

“It is a bit of a new norm,” Orrigo told the Journal. “It isn’t like, ‘Hey, there’s a one-off apartment that’s $75 million. There’s a whole class of these right now.”

Weinreb led Howard Hughes for nearly a decade and oversaw the company’s initial public offering. He stepped down in 2019 and is now chairman and CEO of Weinreb Ventures, a real estate investment and advisory firm.

In March, Weinreb also listed his Dallas mansion for almost $25 million, according to Mansion Global.
— Jake Indursky