Pricing Data: What Buyers, Sellers Should Know About NYC's Top Condo$
15 Central Park West
May 23, 2014 — Condo sales are up, price per square foot is up, and someone, somewhere, just sold their unit for a cool $43,000,000. (And yet, somehow, it’s not the most expensive unit per square foot!)
CityRealty’s quarterly “CityRealty 100 Report” is out, and the numbers are eye-opening. According to the report, the first quarter saw 169 apartments change hands at what the firm has determined are the top 100 condominium buildings. Average price per square foot was $2,272. Compared to the same time frame last year, that price has increased 19.4 percent
As an investment, condos hold up. CityRealty compared the growth in the price per square foot over the last ten years to growth in other investment markets, such as the S&P 500, the price of oil and the price of gold. Condos grew in value by 5.30% per year.
The most expensive condominium in the city is 15 Central Park West. The top five is rounded out by two buildings in Columbus Circle; One Madison; and Superior Ink, at 400 West 12th Street in the West Village.
And the unit that sold for eight figures? That would be the triplex penthouse at One Madison, a five-bedroom, 5 1/2-bath, 6,850-square-foot apartment. But the most expensive per square foot was the second most expensive overall: Apartment #64CE at the Time Warner Center. With five bedrooms, six baths and 4,366 square feet, it sold for $30 million — a cool $6,871 per square foot. We ain’t in Kansas anymore, that’s for sure.
You can download the report here.
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