As New Construction Manhattan recently reported, the of a 6,744 square foot apartment at 15 Central Park West shook up the New York real estate market, as it was sold for $88 million. This sale marked the end of the apartment’s reign as New York City’s priciest condo. And now its co-op counterpart has hit the market, in the form of a newly listed 12,000-square-foot duplex penthouse, situated directly across the park.

Priced at $65 million, 785 Fifth Avenue, at the corner of East 60th Street, is the largest penthouse on its street. In terms of price per square-foot, this translates to about $5,400, which is $7,600 less per foot than the Central Park West apartment. Following on the heels of a landmark sale, this Manhattan co-op apartment now holds the record for the highest asking price for a New York City co-op.

The Upper East Side property boasts seven bedrooms, eleven bathrooms, and three kitchens. There is also a formal dining room that can accommodate up to 22 people, a media room, a grand salon, a billiards room, a full gym, and a library with a fireplace. Additionally, there are two wrap-around terraces, plus a full rooftop terrace. Songwriter Denise Rich is the current owner of the Upper East Side penthouse, and has called it her Manhattan home for several years. However, with her two daughters grown and living in Europe, Rich has decided to downsize, as the 19-room co-op is too large for just her alone.

It's highly likely that this high asking price is a direct result of the record-breaking sale at Central Park West. The trend of more and more high-priced Manhattan apartments hitting the real estate market supports the notion of a rising Manhattan market for , as . Similar to the 15 CPW sale, pied-a-terre and international purchasers are welcomed, reflecting the . Though it is uncertain if the final sales price will match the $65 mil asking price, the trend of ultra-luxury places at ultra-luxury prices looks to stay for good.