New York’s new luxury condominiums have competed in terms of height, amenities and record-setting prices over the past few decades. And now they’re breaking the billion-dollar threshold.
Seven of Manhattan’s priciest luxury buildings each have garnered more than $1 billion for developers in first-time sales, which exclude resales and sales of retail or commercial space, according to data released Tuesday by PropertyShark, a real estate information provider.
PropertyShark, ranked the top 50 buildings in terms of sales volume—finding the top three are all situated along Central Park, with views of the park the most noted selling point.
The crown is taken by 15 Central Park West, which has brought in a total of $1.882 billion to developer, Zeckendorf Development. Sales first launched in August 2007 and all units have been sold.
One57 and 432 Park Avenue, both on the so-called Billionaires’ Row on 57th Street, come in second and third. One57, developed by Gary Barnett’s Extell Development, has reaped $1.796 billion by selling 90% of units since December 2013, according to PropertyShark.
— Mansion Global (@MansionGlobal) June 10, 2017
And 432 Park Avenue, the world’s tallest residential tower developed by CIM Group and Macklowe Properties, has sold 89 units or 63% of its offerings, for $1.796 billion. At this rate, it’s projected to cross over the $2 billion mark by the time it sells out. Sales first launched in December 2015.
The fourth to seventh places, in order, belong to: The Greenwich Lane, The Plaza at 786 Fifth Avenue, Time Warner Center, and Manhattan House Condo at 200 East 66th Street.
|Ranking||Building||Sales||First Sale||% of units sold|
|1||The House||$1,881,982,784||Aug-2007||sold out|
|3||432 Park Avenue||$1,795,807,530||Dec-2015||63%|
|4||The Greenwich Lane||$1,513,709,635||Oct-2015||91%|
|5||The Plaza||$1,296,870,614||Mar-2007||sold out|
|6||Time Warner Center||$1,076,228,720||Aug-2003||sold out|
|7||Manhattan House Condo||$1,034,219,135||Oct-2008||69%|
|Note: Data is as of June 12, 2017
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