Lavish Condo Breaks $100M Sale Price Ceiling in Manhattan

Shattering the record set almost four years ago, an incredibly sumptuous apartment on 57th Street has sold for $100.47 million dollars. The previous city record was for $88 million paid for a Central Park West address.

The unnamed buyer is the current owner of a two-floor, lavish condo overlooking Central Park. The condo is 11,000 square-feet. It has six bedrooms, seven bathrooms and two powder rooms. All of the apartments in the building have vaulted ceilings, rosewood flooring and custom-made Italian marble baths.

“This is going to set a new benchmark for real estate in New York, especially in new developments,” said Ben Benalloul , a broker with RLTY NYC, to the New York Daily News. “I think this is a record we’re going to see broken several times over the next two years.”

The apartment takes up the entire 89th and 90th floors of the new One57 building and offers incredible views of not only Central Park but the entire city. The residents of the building, in addition to living on “Billionaire’s Row,” have access to a gym, pool and Jacuzzi, a library and a screening room in the apartment building.

The previous record of $88 million paid for a condo was held by Ekaterina Rybolovlieva, daughter of fertilizer tycoon Dmitry Rybolobiev. That condo, at 15 Central Park West, cost more per square foot than the One57 condo. The Central Park West apartment went for $13,000 per square foot while the One57 apartment came in at $9,000 per square foot.

As expensive as they are, the condos for sale in the building have nearly sold out. Hedge fund entrepreneur Bill Ackman is rumored to be buying a $90 million apartment at One57 although that sale has not been recorded with the city.

According to StreetEasy, a real estate website, there are still ten apartments in Manhattan that are actively up for sale in the building. A three-bedroom, four-bath condo is listed for just under $39 million, while a relatively affordable five-bedroom apartment is listed at just $31.8 million.

Khurram Aziz is a web entrepreneur who trained as a journalist. He is a freelance writer, runs online ventures, and consults on WordPress and Magento web development.