A raw, unbuilt penthouse tucked beneath the copper roof of Hampshire House at 150 Central Park South is pending sale for $6.765 million after an 83% collapse from the $40 million asking price it carried when it first hit the market in 2018. The roughly 9,000-square-foot space, long used only as mechanical attic space, went through a 43-day online auction process that closed in July.
The sale was announced by Concierge Auctions, which handled the transaction in partnership with Nest Seekers International, as reported by the New York Post. Digital bidding opened June 30 and wrapped July 14, according to EIN Presswire. The Post reports the penthouse returned to auction this time with a $6 million starting bid, and a prior 2022 attempt to launch the sale failed after bidding never reached the required minimum threshold.
A $40 Million Dream That Never Got Built
The unit first hit the market in 2018 at $40 million, later returning at $18.75 million before this year's auction, per the Post's reporting. The space has sat as a largely unfinished shell the entire time — essentially a blank canvas beneath one of Manhattan's most photographed rooftops.
Pre-approved plans from SPAN Architecture envision transforming the raw attic into a three-story, five-bedroom, five-and-a-half-bathroom residence with four private terraces totaling 1,200 square feet of outdoor space, according to Concierge Auctions. The design also calls for a glass-enclosed rooftop catwalk with a wet bar positioned between the building's twin copper chimneys — a rooftop entertaining feature that helped the concept win Interior Design Magazine's Best of Year residential award back in 2018, while it was still only on the drawing board. Those plans took roughly three years to win co-op board approval, the Post notes.
What It Actually Costs to Finish
Whoever closes on the deal inherits a serious construction project. Converting the raw space into a white-box shell is expected to take roughly 18 to 24 months, after which interior finishes can begin, and marketing materials from the original 2020 auction attempt estimated the full buildout at $15 million to $20 million with a projected finished value near $100 million, according to 6sqft. That 2020 no-reserve auction, held at the same $40 million ask, ultimately failed to produce a deal.
Despite its size, the penthouse's monthly carrying costs run only about $6,300 — roughly $75,000 a year — a relatively modest figure for a Manhattan residence of this scale, per Concierge Auctions. Typical luxury penthouses along Central Park South can run tens of thousands of dollars a month in carrying fees, making the Hampshire House unit something of an outlier even in its unfinished state.
Strict Co-op Rules and a Storied Address
Buying into Hampshire House isn't simple. The penthouse requires a substantial construction project, narrowing the pool of eligible buyers for a project already demanding tens of millions more in construction costs.
The building itself carries deep architectural pedigree. Construction began in 1926 as a planned 39-story tower called the Medici Tower under Italian immigrant developer Eugene Lignante, but the project stalled after the 1929 stock market crash before architects Caughey & Evans finally completed it between 1937 and 1940, per Homes.com. The building's now-iconic steep copper roof is a defining feature of its design. Pioneering decorator Dorothy Draper worked with Caughey & Evans on the building's interiors, according to Apartments.com.
Hampshire House has drawn a roster of famous residents over the decades, including Luciano Pavarotti.
Litigation Over Neighboring Supertall Construction
Hampshire House is also embroiled in ongoing litigation against JDS Development LLC and other defendants over construction of the 1,428-foot supertall at 111 West 57th Street, alleging that the project caused roughly $25 million in structural and facade damage to the landmark co-op. A judge granted Hampshire House partial summary judgment on liability in 2024, according to the New York Law Journal, though the amount of damages remains unresolved.
The pending deal adds a layer of building-wide complexity for whoever eventually moves into the finished penthouse, even as it marks the end of a long, winding sales saga for one of Central Park South's most unusual unbuilt spaces. The buyer's identity is expected to be revealed once the sale officially closes.
