In October 2020, at the height of pandemic uncertainty in the New York real estate market, Milwaukee Bucks co-owner and billionaire investor Wes Edens quietly closed on a striking triplex penthouse in Chelsea for $20.2 million. The property, located at the iconic 520 West 28th Street designed by the late Zaha Hadid, had originally listed for a lofty $50 million years earlier. As of late 2025 into 2026, that same high-profile Manhattan penthouse has generated fresh headlines after Edens listed it and moved it into contract, ultimately closing around $26.5 million after renovations.
The story of Edens’ $20 million Manhattan penthouse purchase captures the essence of smart luxury real estate timing, architectural prestige, and the lifestyle of one of the NBA’s most successful team owners. Here’s the full breakdown of the deal, the property’s features, Edens’ background, and the latest updates as of 2026.
Who Is Wes Edens?
Wesley “Wes” Edens is a self-made billionaire, private equity veteran, and major sports team owner. Born in 1961 and raised on a ranch in Montana, he built his fortune as a co-founder of Fortress Investment Group in 1998. The firm went public and was later acquired by SoftBank. Edens currently serves as CEO of New Fortress Energy and has major stakes in sports: he co-owns the NBA’s Milwaukee Bucks (purchased in 2014 alongside Marc Lasry for $550 million), co-owns Premier League club Aston Villa, and has interests in other ventures including Brightline high-speed rail and esports.
Forbes has listed his net worth in the $2.4–2.9 billion range in recent years. Under his ownership group, the Bucks won the 2021 NBA championship and developed the successful Fiserv Forum and surrounding Deer District in Milwaukee. Edens maintains residences tied to his New York business base while remaining deeply involved with the Bucks.
[Image: Wes Edens, Milwaukee Bucks co-owner and investor, at a public event]
Image URL: https://media.gettyimages.com/id/1347903572/photo/milwaukee-bucks-co-owner-wes-edens-is-introduced-during-the-ring-ceremony-prior-to-a-game.jpg
What Happened with the $20 Million Manhattan Penthouse Purchase?
In 2020, Edens acquired Penthouse 37 at 520 West 28th Street for $20.2 million through an LLC. The triplex spans roughly 6,600–6,850 square feet of interior space plus about 2,500 square feet of outdoor space. It sits atop the 11-story building that is Zaha Hadid’s only residential project in New York City. Hadid, the first woman to win the Pritzker Prize, designed the curvaceous glass-and-steel structure overlooking the High Line before her death in 2016; the building opened around 2017–2018.
The unit originally hit the market asking $50 million. By the time of Edens’ purchase, the asking price had fallen to just under $25 million amid softer luxury demand during the early pandemic. Brokers noted the original price reflected an overly optimistic market. Edens closed quickly, securing a substantial discount of roughly 60% from the initial ask.
Key features of the penthouse include:
- Five bedrooms and seven bathrooms
- Dramatic great room with soaring (up to 20-foot) ceilings, floor-to-ceiling glass, and High Line views
- Signature three-story sculptural staircase designed by Hadid
- Private elevator
- Chef’s kitchen (Boffi/Gaggenau)
- Media room, library, and multiple outdoor terraces including a large rooftop
[Image: Exterior of the Zaha Hadid-designed 520 West 28th Street building overlooking the High Line in Chelsea]
Image URL: https://static.dezeen.com/uploads/2018/11/520-west-28th-zaha-hadid-architecture_dezeen_2364_col_0.jpg
[Image: Interior great room of the penthouse with high ceilings, glass walls, and city views]
Image URL: https://static.dezeen.com/uploads/2018/11/520-west-28th-zaha-hadid-architecture_dezeen_2364_col_8.jpg
Inside the Zaha Hadid Penthouse: Design and Amenities
The architecture emphasizes fluid curves, natural light, and indoor-outdoor living. The sculptural white staircase is a centerpiece, connecting the levels dramatically. After purchasing, Edens undertook a significant 2022 renovation that included updates to the great room fireplace, primary suite reconfiguration, smart lighting, and a full rebuild of the rooftop outdoor space featuring a sauna, hot tub, cold plunge, outdoor kitchen, and wet bar.
Building amenities elevate the lifestyle further: a 75-foot skylit pool, private spa and fitness center, robotic parking, and New York’s only private IMAX theater in a residential building. The location in West Chelsea places residents steps from the High Line, art galleries, and the Whitney Museum.
[Image: Signature three-story sculptural staircase inside the Zaha Hadid penthouse]
Image URL: https://static.dezeen.com/uploads/2018/11/520-west-28th-zaha-hadid-architecture_dezeen_2364_col_5.jpg
[Image: Rooftop terrace and outdoor living space of the Chelsea penthouse]
Image URL: https://static.dezeen.com/uploads/2018/11/520-west-28th-zaha-hadid-architecture_dezeen_2364_col_13.jpg
Latest Updates: Listing, Sale, and Profit as of 2026
In June 2025, Edens listed the renovated penthouse for $35 million. By October 2025 it had entered contract. Public records and market reports later confirmed a closing price of approximately $26.5 million in late 2025. This represented a solid gain of about 31% on the $20.2 million purchase price (not counting renovation costs).
As of September 2026, the transaction stands as a successful flip of a trophy asset in a selective luxury market. Edens has not publicly detailed his reasons for selling, though his business interests (energy, sports, rail) and multiple properties suggest ongoing portfolio management. The buyer’s identity has not been widely disclosed.
The sale underscores how well-timed purchases of architecturally significant properties can deliver returns even after substantial renovations. Related coverage of high-end Chelsea and High Line sales continues to track similar trophy deals.
FAQs
- When did Wes Edens buy the Manhattan penthouse?
He closed on the $20.2 million purchase in 2020 (reports place the transaction in September/October). - How much did the penthouse originally ask for?
It first listed around 2016 for $50 million before successive price reductions. - What is special about the building at 520 West 28th Street?
It is the only residential building in New York designed by Pritzker Prize-winning architect Zaha Hadid and features her signature curvaceous style along the High Line. - Did Wes Edens renovate the penthouse?
Yes. He completed a major renovation in 2022 that updated interiors and completely rebuilt the rooftop outdoor amenities. - How much did Wes Edens sell the penthouse for?
After listing at $35 million in 2025, it closed for approximately $26.5 million later that year, delivering a reported 31% gain on the purchase price. - What are the key features of the penthouse?
Roughly 6,600+ square feet, five bedrooms, seven baths, three-story sculptural staircase, private elevator, expansive outdoor space with rooftop terrace, and High Line views. - What is Wes Edens’ connection to the Milwaukee Bucks?
He is a co-owner (part of the ownership group since the 2014 purchase) and has been instrumental in the team’s success, including the 2021 championship and arena development. - Is the penthouse still available or has it sold as of 2026?
It has sold. The transaction closed around $26.5 million after entering contract in fall 2025. - Does the building have notable amenities?
Yes, including a private IMAX theater, skylit pool, spa, fitness center, and robotic parking. - What is Wes Edens’ estimated net worth?
Recent Forbes estimates place it in the range of approximately $2.4 billion to $2.9 billion.
Wes Edens’ acquisition of the $20 million Zaha Hadid Manhattan penthouse in 2020 stands out as a classic example of buying quality architecture at a discount during market softness. The subsequent renovation and 2025 sale for a healthy profit highlight both the enduring appeal of trophy properties in Chelsea and the calculated approach of a seasoned investor and sports team owner. As of 2026, the deal remains a notable chapter in New York luxury real estate and in Edens’ broader portfolio of high-profile holdings. The penthouse itself continues to exemplify Hadid’s visionary design in one of Manhattan’s most desirable neighborhoods.
