Posted by Leonard Steinberg of URBAN COMPASS on October 22nd, 2014

Jennifer Lopez, the fly-girl turned super-star from the Bronx is moving Downtown according to the New York Post: she is supposedly in contract to buy the penthouse above Chelsea Clinton at The Whitman, a newly renovated condominium facing Madison Square Park. The massive penthouse listed by Melanie Lazenby and Dina Lewis that spans the top floor from 26th Street through to 27th Street has two additional pop up add on structures with two separate stairways with huge terraces. After sitting on the market for almost 2 years at what on market standards was a relatively great price ($22.25m), the property boasts one impressive exposure looking over the park towards its newest neighbor 10 Madison Square Park West where penthouse pricing is about double, justifiably so considering that building has substantial amenities, panoramic protected views and tremendous privacy. J-Lo will be able to look up from her terrace to Rupert Murdoch who bought the penthouse across the park at One Madison Park, a few dozen floors above street level. To those frowning about the moves of the wealthy, this sale will produce around $600,000.00 in transfer and mansion taxes alone and J-Lo will have to pay real estate taxes of over $ 170,000 per year, every year…..benefitting all New Yorkers.