Matthew Adell, the owner of Adellco LLC, has been a key figure in the New York City real
estate market for over 25 years. Under his leadership, Adellco has become one of the city’s
premier developers, responsible for creating some of Manhattan’s most sought-after residential
rental and condo buildings that more recently includes d’Orsay, 27 East 79th Street, and The
Wales.
Earlier this month, a 4,179-square-foot, 5-bedroom penthouse at The Wales fell into contract
reportedly near its last asking price of $19.5 million. The deal would make it the highest condo
sale in Carnegie Hill so far this year. The Wales itself, once a beloved turn-of-the-century hotel
-turned boutique condo, is also nearly sold out of its 21 studio to five-bedroom residences.
We caught up with Mr. Adell to discuss the penthouse and the success his firm has achieved
with the building. Plus, since The Wales penthouse is now spoken for, we’ve included a
selection of two dozen new development penthouses currently on the market across New York
City
Read More: https://www.cityrealty.com/nyc/market-insight/features/future-nyc/matthew-adell-selling-20m-penthouse-the-wales-25-new-development-penthouses-market/30144