Tribeca’s Historic Clock Tower Finds Its First Buyer

Finally, it’s happening!

The iconic clock tower in Tribeca, which has been around for over a century, now has a new purpose: keeping time.

After much speculation and almost mythical status, the Clocktower Penthouse at 108 Leonard has officially been sold, according to reports. The agreement for this expansive triplex was confirmed earlier this month.

While the final sale price hasn’t been revealed, it was previously listed at a staggering $19.25 million. The identity of the new owner is still a mystery.

This exceptional residence boasts 8,770 square feet of interior space along with over 3,000 square feet of terraces, including a unique wraparound section at the base of the clock tower. The penthouse seamlessly blends the grandeur of the Gilded Age with contemporary architectural elements.

It’s an unusual chance to live right at a part of New York City’s skyline, a concept that has intrigued potential buyers for years, despite it never being publicly available before this April.

Originally constructed by McKim, Mead & White for the New York Life Insurance headquarters in the late 19th century, the building was designated as a landmark in 1987.

Elyse Leff, an executive vice president at Elad Group, commented on this significant milestone, stating, “With 108 Leonard, we achieved a remarkable transformation in this city. The sale of the Clock Tower Penthouse highlights our commitment to preserving Manhattan’s architectural legacy while updating this landmark for modern living.”

This long-anticipated deal comes seven years after Elad Group started selling apartments at 108 Leonard, which was once the New York Life Insurance Company headquarters.

The Clocktower Penthouse, featuring five bedrooms and five bathrooms, occupies prime corners of the building and has long been regarded as an ultimate find in downtown real estate. It was first listed on the market just this year.

Elena Sarkisian, the director of sales for Douglas Elliman Development Marketing, expressed her pride in the sale, declaring it a significant achievement in her career while emphasizing its unique place in New York City history.

The blend of historic and modern elements within the penthouse is truly luxurious. The main level showcases a grand double-height corner salon with striking arched windows and a double-sided fireplace, while the spacious primary suite includes a midnight bar and a lavish marble bathroom.

A circular staircase and a private internal elevator lead up to the second floor, which offers a versatile layout suitable for various recreational possibilities. Above it all, the historic clock tower section has been creatively transformed into a dramatic art salon set within a spacious terrace.

The terrace, adorned with intricately carved eagles and gargoyles, provides breathtaking views stretching all the way from the Empire State Building to the East River.

“Standing on the terrace, you really feel the river on both sides. It’s just breathtaking,” said Sarkisian.

A beautiful spiral staircase leads to the clock pedestal itself. Although it’s not meant to be lived in, it’s a nod to the clock’s original mechanics, which were electrified recently as part of the building’s upgrades.

Tim Rooney, a partner at Jeffrey Beers International and a significant force behind the interior design, remarked on the enchanting nature of the space, saying it feels like stepping back in time. The objective was to modernize this historic site while ensuring it remains a treasured space for generations to come.