Columbus Circle Continues To Ascend To the Top
There is perhaps no part of Manhattan that is more coveted than Columbus Circle. Downtown neighborhoods like Tribeca and Soho may have the highest average sales prices in Manhattan, but by any measure Columbus Circle, the small area consisting of a few square blocks on the southwestern corner of Central Park, holds its own against those popular areas. After all, anyplace where a penthouse can sell for $88 million – as a pied a terre, no less – must be doing something right. As we’ve written about previously, the most popular condos for sale in Columbus Circle make it clear that the ultra-lux sales market in Manhattan is as strong as it ever was. It’s hard to draw any other conclusion when a penthouse in one of the best newly constructed buildings Manhattan has ever seen is asking for $110 million, and we’d be willing to bet they’ll get it.
Which buildings are we referring to? The apartment sales market in Columbus Circle is essential made up of a few incredible buildings that have thrived despite the downtown. You’re most likely familiar with them already, but it’s worth checking in on where they stand in the current market. The Trump Tower at One Central Park West, for instance, is the most affordable of the bunch – according to streeteasy.com, a studio apartment is available there for $949,000 – but that’s still far from inexpensive. Tellingly, a 2-bedroom on the upper floors is selling for over $21,900,000, or $4,415 per square foot. This is as much a reflection of the prestige of the neighborhood as the high quality of the apartment, and that prestige will become all the more evident will a quick glance at other condos for sale in Columbus Circle.
At the Residences at the Mandarin Oriental on 80 Columbus Circle, the six apartments that sit atop the north tower of the Time Warner Center are available for between $5,955,000 and $42,500,000 at an average of $7,447 per square foot. At 25 Columbus Circle, also located in the Time Warner Center, the prices per square foot and price range are very similar, and the highest price apartment for sale is listed at $60 million. The success of 15 Central Park West has already been well documented, but it’s worth mentioning that the PPSQ is $7,837, one of the highest in Manhattan. And the crown jewel of Columbus Circle, a building that hasn’t even opened yet, is One57, a 1,004-foot tower that will be the tallest residential building in Manhattan when it’s completed. The asking prices at One57 total over $2 billion when added together, which says everything you need to know about the building, the neighborhood, and the strength of the ultra-lux sales market in Manhattan.