With 78 Active luxury condominium and Penthouse listings priced at or above $20 million in Manhattan as of March 18th, 2014 I wanted to explore and share New York’s Top 10 Active Sales by price. All of the top 10 are either on or near Central Park. The highest asking price is $100 million with lowest of the top 10 being priced at $60 million. As a reference point, in 2008 when the market crashed, $43 million was about the highest price being paid for New York’s top properties. Today 40% of the top 10 are Penthouses or apartments at new developments like the Baccarat Hotel & Residences (20 West 53rd Street) and the Carlton House (21 East 62nd Street developed by Extell). 60% are re-sales in such noted buildings as 15 Central Park West, The Plaza (1 Central Park South) and other buildings. For a better look at the top 10, click on photo #1 to enlarge and view the whole gallery.
The highest price per square foot being asked is $12,500 for the Penthouse at City Spire (150 West 56th Street) which has been on the market for almost a year according to Streeteasy with the most competitive price per square foot coming in at a healthy $6,123 per square foot for the newly listed 25 East 71st Street’s Penthouse unit. During the height of the financial crisis Time Warner’s top condos had dropped to an average price of $4,800 per square foot (down from highs of 5,400 per square foot). Today the highest priced listing at Time Warner’s 80 Columbus Circle is just below the top 10 at $50 million ($10,362/SqFt), reflecting the robust market growth since the bottom of the market in 2009.
(Disclosure: These listings are not my listings and are represented by other firms – Courtesy notices for the Exclusive Agencies representing the properties are on the photos)