Lewis Hamilton turned a $43.99 million New York property purchase into a multimillion-dollar gain without ever making the Tribeca penthouse his home. The seven-time Formula 1 world champion bought Penthouse H at 443 Greenwich Street in 2017, then put the 8,908-square-foot triplex on the market for $57 million in 2019. After spending years on and off the market, the property entered a contract at $49.5 million in October 2021 and later closed at that price. Hamilton had already bought another Tribeca home at 70 Vestry Street, helping explain why the Greenwich Street property became an investment rather than a residence.
What Did Lewis Hamilton Get For $43.99 Million At 443 Greenwich Street In Tribeca
Hamilton bought Penthouse H from the sponsor for $43,991,455 in 2017. The triplex covered 8,908 square feet across three levels, making it the largest residence in the 443 Greenwich Street building. It also came with 3,246 square feet of private outdoor space and two parking spaces.The building itself was created from a former 19th-century bookbindery in Tribeca. Its private underground motor court and valet parking helped give 443 Greenwich Street its “paparazzi-proof” reputation. The setup allows residents to drive into the building rather than arrive through a busy street entrance. The Real Deal described the property as having an “paparazzi-proof” underground motor court when reporting on the building’s celebrity residents.That privacy was one reason the address became associated with well-known names. Justin Timberlake, Jessica Biel, Ryan Reynolds, Blake Lively, Jennifer Lawrence and Harry Styles have all been linked to the building at different times.For Hamilton, though, the appeal was not enough to turn the apartment into his New York home.
What Features Made Lewis Hamilton’s 8,908-Square-Foot Triplex So Expensive
The size was only part of the story. The penthouse had six bedrooms, six full bathrooms and two powder rooms. A large great room had 20-foot ceilings, while original details from the old bookbindery were kept as part of the design. The residence also had multiple terraces and a private elevator serving the three floors.The upper terrace included a private plunge pool and summer kitchen. There were also two dedicated parking spaces, an especially valuable feature in Manhattan where private parking is limited.Residents of 443 Greenwich Street also had access to shared facilities. These included a 71-foot indoor pool, fitness facilities, a Turkish bath, a children’s playroom and a large rooftop terrace. Hamilton’s unit carried monthly common charges of about $18,360, according to its listing details reported by The Real Deal.The combination of space, outdoor areas, privacy and building services helped place the apartment among Tribeca’s most expensive homes.
Why Did Lewis Hamilton Never Move Into His $43.9 Million Tribeca Penthouse
Hamilton’s most unusual decision was what he did not do with the apartment. He never moved into it.By 2019, he had another major property nearby. Hamilton bought a residence at 70 Vestry Street for about $40.7 million that year. The home measured roughly 6,500 square feet and included about 3,000 square feet of outdoor space.That purchase came before Hamilton’s 443 Greenwich Street penthouse was offered for sale. In February 2019, reports said the Greenwich Street property was being marketed for $57 million. The listing described it as a six-bedroom triplex, with a private elevator, pool, terraces and two parking spaces.The $57 million asking price was far above what Hamilton had paid two years earlier. The property later appeared on and off the market before the asking price was brought down. By October 2021, it had entered contract at $49.5 million.The sale also showed why Hamilton’s original purchase was not simply about finding a place to live. The penthouse had spent years as an asset in his property portfolio.
How Did Lewis Hamilton Turn The 443 Greenwich Sale Into A $5.5 Million Gain
The $49.5 million deal was still well below the original $57 million asking price, but it was more than Hamilton’s $43,991,455 purchase price. The difference was about $5.51 million before taxes, transaction costs and other expenses.The contract was handled by Compass broker Nick Gavin, and CityRealty listed the $49.5 million deal as the top residential contract in its October 2021 report. When the sale was completed, it was reported as the biggest residential sale in Downtown Manhattan that year.The buyer was initially hidden behind a Seattle-based entity. Later reports linked the purchase to Jennifer Gates, daughter of Microsoft co-founder Bill Gates. Gates was subsequently reported to be living in Hamilton’s former penthouse.So Hamilton’s New York property story ended with a simple but unusual result. He bought one of Tribeca’s largest and most private homes for almost $44 million, never moved into it, listed it for $57 million and eventually sold it for $49.5 million. At the same time, he had already secured another expensive home at 70 Vestry Street, just a short distance away.
