Every now and then, the market gives you a moment where you can feel things changing. This week, that moment happened at 140 Jane Street—a brand-new, ultra-luxury, 14-unit condominium in the heart of the West Village.
Word is, it sold out before it even officially hit the market. Most residences traded around $20 million, and the penthouse—PH8—closed at over $80 million, making it not only the biggest sale of the year but also the highest price ever paid for a downtown residential property.
When shifts like this happen, they’re rarely subtle. One day buyers are cold and hesitant; the next they’re making offers over ask, skipping due diligence, and racing to lock down a deal. That’s a slight exaggeration—but not by much.
The Building
140 Jane isn’t just another glass box in the sky. Developed by Aurora Capital with architecture and interiors by Leroy Street Studio and executive architecture by BKSK Architects, the 11-story building sits on a quiet cobblestone block, facing the Hudson River. Inside, each residence is expansive and meticulously finished, with amenities that check every box: a private park, lap pool, hot tub, porte-cochère, automated parking, and even a landscaped roof terrace.
- StreetEasy Building Page: 140 Jane Street
- CityRealty Overview: 140 Jane Street Profile
Lightning Sales & Record Prices
Sales launched in August 2024, and 13 out of 14 units went into contract almost immediately—some without the buyers ever stepping foot inside. Zoom tours, off-market negotiations, and aggressive bids were the norm.
The standout is PH8, a 9,532-square-foot, six-bedroom, seven-and-a-half-bath penthouse with private terraces. Listed at $87.5 million, it’s the most expensive home ever sold downtown:
PH8 on StreetEasy
Why It Matters
This isn’t just a one-off success story. It could be the leading edge of something bigger. For years, ultra-luxury attention has been focused uptown, but downtown—especially the West Village—is having a moment. Big-name employers like Google, Deloitte, and Jane Street Capital have expanded nearby, bringing in buyers who want discreet, boutique luxury in a walkable neighborhood.
Some might see 140 Jane as an anomaly—a bull run in a bear market. I don’t. If August closes strong and September follows suit, we could be talking about New York City being in a sellers’ market before Thanksgiving.
Read More
- Construction & Design Progress: New York YIMBY
- Market Context: WSJ – Downtown Luxury Surge
- Billionaires’ Row South: Habitat Magazine
140 Jane Street might just be the first real sign of a downtown luxury revival. And if the momentum holds, it won’t be the last.
