The Upper East Side of Manhattan remains active in the luxury real estate market, with recent data showing that investor David Hamamoto sold his apartment for $14.9 million. The sale occurred during a week when 33 luxury properties went into contract, an 18% rise from the previous week. According to Crain's New York, Hamamoto’s three-bedroom co-op includes a private elevator, a wood-burning fireplace, and views of Central Park and the Frick Museum.
Hamamoto, previously involved in legal issues related to his electric truck company Lordstown Motors, purchased the apartment in 2013 for $13.3 million, according to city tax records. The identity of the buyer and the final sale price have not been disclosed. A spokesperson from Compass declined to comment on the transaction.
The property may attract interest from those with an appreciation for art and architecture, given its location directly across from the recently reopened Frick Collection, which underwent a $220 million renovation. The residence has been fully renovated by designer Thad Hayes. As reported by New York Post, features include a 20-foot foyer, high ceilings, and a windowed chef’s kitchen, situated within a 14-story prewar building designed by Rosario Candela in 1927.
While Manhattan’s luxury market showed increased activity last month, with 117 contracts signed compared to 107 in the same month two years earlier, the seller’s background adds additional context. Lordstown Motors, once publicly praised by President Trump, later filed for bankruptcy protection and rebranded as Nu Ride. The company faced SEC allegations of misleading investors and settled a class-action lawsuit for $15.5 million. Hamamoto has not made any public statements regarding the property sale or the legal matters.
