New York City is home to some of the most expensive real estate in the world. Need proof? Check out the One57 top floor penthouse. Listed at $115 million, this expensive Manhattan property is on its way to becoming the most expensive residential listing in New York City ever! Why are we not surprised? I suppose it has a lot to do with the extravagant spending habits of billionaires who invest in New York property. Fairly recently, we got wind of an $88 million penthouse sale in the city’s posh new condominium complex at 15 Central Park West. This pricey sale convinced the developers of the One57 top floor penthouse that the property was worth more than the original $98.5 million.
Pricey Duplex Penthouse
Despite the price (which will anyway attract billionaire investors), the expensive Manhattan property has a lot going for it. The glass-walled property will look over the tops of some of Manhattan’s tallest buildings. The view from the penthouse is its biggest USP, but there are many other plus points as well. The pricey six-bedroom home covers 10,923 square feet; by New York standards that is a veritable palace. But the luxury quotient of this home is about more than its size. The affluent individual who loves to entertain will enjoy the double-height grand salon that offers views of Central Park. Everything from the walls of glass to the kitchen fittings scream luxury.
NY’s Hippest New Address
One57 is well on its way to becoming the most sought-after address in New York City. This skyscraper located on 157 West 57th Street is soon going to wear the crown of the tallest residential building in the Big Apple. The main architect of this expensive Manhattan property is Pulitzer Prize winner Christian de Portzamparc. Under his helmsmanship, One57 is rising to a height of over 1,000 feet. However, pictures of the Manhattan skyline reveal that One57 stands a class apart from other tall skyscrapers in the area. It does not all have to do with the height. The expert use of glass and the building’s ability to attract light provides a sense of fluidity.
Calling Overseas Buyers
Investors from around the world have evinced interest in the building, which is set to be ready for residents by 2013. According to reports, buyers from Russia, China and South America in particular have been more than enthusiastic about the project. This interest encouraged the building’s developers to move out of the typical New York mould and create layouts that focus on large spaces rather than multiple bedrooms. The grapevine suggests that one Chinese buyer has splurged on four $20 million apartments, but this has not been confirmed. American buyers jumped on to the bandwagon a little late, to their disadvantage.
Luxury Property Prices Rise Again
Those who claimed that the recession was the end of extravagant property deals had better think again. Russian composer Igor Krutoy spent $48 million on a 6,000-square-foot home at The Plaza in March 2011. By December 2011, The Plaza was offering a newly renovated apartment for rent – the price was a cool $165,000 per month. Earlier on, in September, we heard that the Time Warner Center penthouse raised its list price to $60 million. While that is no match for the One57 top floor penthouse, you will have to be a billionaire or multi millionaire to afford these prices.