Wednesday, June 14, 2017

NYC’s most expensive condos ever include 15 Central Park West, One 57

These records are based entirely on first-time sales only

Multimillion dollar sales aren't an alien concept in New York, but crossing the billion-dollar sales mark is a whole other ballgame. Regardless, seven of the city's priciest condo buildings have managed to cross that seemingly unattainable figure, a new study by PropertyShark has revealed.

The website compiled a list of the top 50 best-selling NYC condos of all time, based on the first-time sales, and the top 10 included some familiar names (but we'll get into that). Unsurprisingly, 49 of these top 50 buildings are located in Manhattan; the top 10, meanwhile, managed to net a whopping $12.8 billion in sales.

On that list of 50, seven buildings—most of which are, unsurprisingly, located near Central Park—had managed to break $1 billion in total sales. The Robert A.M. Stern-designed celebrity magnet 15 Central Park West emerged on top with just under $1.9 billion in sales. Based on the total sales, condos here averaged $8.2 million, which wasn't the highest average by a long shot.

That distinction goes to Christian de Portzamparc's One57 (on, appropriately, Billionaires' Row), where condos averaged $21.1 million per unit. In terms of total sales, the building came in second place with $1.8 billion. In third place was the current tallest residential building in the world, 432 Park Avenue, also with $1.8 billion in sales.

Central Park with 432 Park AvenueJoel Raskin/Curbed Flickr Pool

Both 432 Park Avenue and One57 are projected to cross the $2 billion sales mark, according to PropertyShark, with 432 Park eventually emerging on top. Rounding out the seven buildings that broke $1 billion in sales are The Greenwich Lane, The Plaza, the Time Warner Center, and Manhattan House.

However, they might not hold on to the top positions all that long: Vornado's 220 Central Park South is expected to surpass $3 billion in sales, and Nordstrom Tower may take it one step further with over $4 billion in total sales.

Now, what's that one building in top 50 that wasn't in Manhattan, you ask? One Brooklyn Bridge Park, which has seen total sales of $503 million, putting it is 21st place. To check out the entire list head on over to PropertyShark.

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