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Iconic Penthouse of 108 Leonard Building in Tribeca Transforms Century-Old Clock into a Luxury Space with Panoramic New York Views, Joining Historical Architecture and Contemporary Comfort in Over 800 Sq Ft
After more than a century marking time in the heart of Tribeca, the clock tower of 108 Leonard gains a new purpose: to be the centerpiece of one of New York’s most sought-after residences. The luxurious Clocktower Penthouse, shrouded in mystery and speculation for years, has finally been sold.
The contract was signed earlier this month, as revealed by The Post. The final transaction amount has not been disclosed, although the last estimate was US$ 19.25 million.
The identity of the buyer also remains confidential, further increasing the air of exclusivity that has always surrounded the property.
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Luxury, History and Panoramic View
The penthouse occupies three floors, with 8,770 square feet (approx. 2,673 m) of indoor space and over 3,000 square feet (approx. 914 m) of terraces.
Among them is a rare circular terrace that wraps around the base of the clock itself. The union of historical heritage and contemporary comfort makes the residence a true livable monument.
For years, the property has been the subject of curiosity and desire among high-end buyers, but it was never officially available for sale.
Now, its acquisition marks a new chapter for 108 Leonard, one of the most emblematic projects of developer Elad Group.
“With 108 Leonard, we accomplished one of the city’s most remarkable conversions,” stated Elyse Leff, the company’s executive vice president.
She emphasized that the sale symbolizes the commitment to preserving Manhattan’s architectural heritage while adapting it to modern luxury standards.
From Corporate Headquarters to Gilded Age Symbol
The building, formerly known as 346 Broadway, was the former headquarters of the New York Life Insurance Company.
Designed in the late 19th century by renowned architects McKim, Mead & White, the Italian Renaissance-style building was designated as a historic landmark in 1987.
Elad Group acquired the structure in 2013, in partnership with Peebles Corporation, for US$ 160 million. The transformation process took six years and resulted in 152 luxury condominiums.
Despite the renovations, the original details — columns, moldings, and ornaments — were preserved to keep alive the grandeur of the Gilded Age in New York.
The Most Desired Penthouse in the City
Among all the units, the Clocktower Penthouse has always stood out. With five bedrooms, five bathrooms, and a prime location at the north, west, and south corners of the building, it offers unparalleled views of the Manhattan skyline.
According to Elena Sarkissian, the project’s sales director, selling this unit was “a career achievement.”
For her, the property is a rare piece of the New York skyline, combining contemporary craftsmanship with the historic charm that defines the city.
The Interior of the Tower
On the main level, there is a spacious hall with double-height ceilings, arched windows, and a double-sided fireplace.
The master suite occupies 1,000 sq ft and features a private bar, a south-facing closet, and a marble-clad bathroom with a 6-foot bathtub.
A circular staircase, alongside a private internal elevator, leads to the upper floor. There, the space can be used as a wellness room, wine cellar, or private cinema — all designed to offer privacy and comfort.
The Clock That Became Art
The final highlight is at the top: the base of the clock tower, now an art gallery with 16 feet of height surrounded by a 2,000 sq ft terrace.
From there, one can enjoy one of the most spectacular views of New York, from the Empire State Building to the East River bridges.
Statues of eagles and gargoyles adorn the perimeter, reinforcing the monumental character of the building.
The old clock mechanism, previously wound manually, was electrified in 2023, preserving the symbol of time — and history — that now marks a new era: that of a home in the clouds.
With information from New York Post.
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