A stunning condo that has already made history by becoming the world’s tallest residential building is once again setting records with its whopping $250 million price tag making it the country’s most expensive property.
The skyscraper known as Central Park tower sits at ‘billionaire’s row’ and when its construction ended in 2020, it set the record for the world’s tallest residential condominium, at 1,550 high, and now the tower is making history books once again, this time with its listing price.
According to Zillow, the costly listing is the most expensive in the US, topping Michael Eisner’s California estate, which was listed at $225 million.
If the luxury condo tower is sold, it’s steep price will make it the county’s most expensive property to date and the lavish penthouse will overthrow the previous sale of the condo across the street at 220 Central Park South, which sold for an eye-watering $238 million.
The world’s tallest condo penthouse is now set at the most expensive price in the country – a whopping $250 million
Central Park tower sits at ‘billionaire’s row’ and when its construction ended in 2020, it set the record for the world’s tallest condo tower at 1,550 feet
Over the past two years there has been a rise in homes with ultra-high price points being sold.
The nine-figure deals have occurred in New York City, Miami, Malibu and Palm Beach, Florida; so it comes as no surprise the most expensive listing is toping in the Big Apple.
The luxurious property is located on 57 street between Seventh Avenue and Broadway and has been launching sales since it completed construction in 2018.
The stunning penthouse boasts seven bedrooms spans over the 129 through 131 floors and totals at more than 17,500 square feet.
And the extreme height doesn’t stop at the outside of the tower as each room has a ceiling that measures to be up to 30 feet with a spiral staircase connecting each floor.
The ultra-high price tag is warranted by the private ballroom or entertainment area that encompasses the uppermost floor.
If you aren’t sold on the luxurious condo just yet, the towering condo offers breathtaking views of the city, overlooking Central Park and the Hudson and East rivers.
If the luxury condo tower is sold it will become the most expensive to date and overthrow the previous sale of the condo which sold for $238 million
Listing agent Ryan Serhant told Wall Street Journal the price was warranted because there are no renovations needed.
‘You don’t have to renovate for four years to create your dream home. It’s been built for you.’
Developer Gary Barnett noted that the tower’s whopping cost is a ‘bargain.’
‘There’s a bunch of artwork going for $100 million and even $200 million. When you compare that to 17,000 feet of steel and brick and glass at the top of the world, this seems like a relative bargain,’ he told WSJ.
Barnett added that he knew the lavish condo tower would sell as it was a ‘unique’ property.
Thus far, Barnett has around $1 billion worth of apartments in the condo, but projected he would sell more than $4 billion by this time.
The developer has heavily decreased the price of the apartments at the Central Park Tower.
He recently sold a five-bedroom apartment for $43 million, which was 32.5 per cent off the original asking price.
The unit with the highest price tag appears to be an apartment on the 53 floor, which was closed at $50 million.
According to a market report by Douglas Elliman, the average price of a Manhattan home was up 10.5 per cent in the second quarter from the same period last year.
And while luxury homes were up 15.4 per cent, data from UrbanDigs shows that the number of real estate contracts signed in New York City decreased nearly 30 per cent when compared to the supercharge in August of 2021.
Serhant explained that he doesn’t believe the changes in the market will affect a property at this ultra-high price point.
He told WSJ: ‘It’s not in the timing. This is not the type of property where you wait for the spring market or the fall market.’