Articles on High-End Manhattan Condos

NYC’s Tallest Tower Headed to Park Avenue

The Manhattan skyline from Central ParkNew York City is known for its skyscrapers and high-rise buildings towering over the bustling city below. Well, there will soon be a new kid on the block that will be the tallest apartment building in the city. Located at Park Avenue and East 56th Street and standing about 1,397 feet and rising 95-stories, 432 Park Avenue will beat out One57 by 400 feet, shoving its closest competitor to the side upon completion in the next few years. It is expected that once construction gets underway on this condominium tower, Manhattan’s real estate will soon be battling it up for superlatives.

Manhattan Condos (And Their Prices) Get Sky High

Manhattan luxury condo prices are on the riseSales at One57 and 432 Park Avenue, amplified examples of a phenomenon, indicate that we are without a doubt, experiencing a residential real estate high. Extell Development's famed One57 sold a penthouse for a record-breaking $90 million, though the building now barely holds onto its "tallest residential tower" title in Manhattan. 432 Park Avenue, which will claim One57's short lived title, has submitted a plan to increase asking prices for its condominium units to $5,800 per square foot, but given the most recent examples, developers have no need to be cautious before instituting a double digit price increase three years before construction is complete. Manhattan condo prices continue to climb as steeply as the megastructures themselves, and even a $5,800 per square foot condominium will sell itself.

Is $75 Million Too Much for a Riverside Condominium?

A triplex apartment at The Heritage at Trump Place is asking a whopping $75 million.There is a lot to be said about the Heritage at Trump Place, one of the many high-end Manhattan apartments for sale at this time. With the upward progression occurring in Manhattan’s real estate sales market, a $75 million triplex apartment is not that far-fetched. A lot of configurations have been made on the part of Donald Trump and his partners. New developments are being made for the growth and expansion of Riverside Boulevard.

High-End Manhattan Apartments Selling Like Crazy

High-end apartments in popular Manhattan neighborhoods near Central Park are altering the way people look at how much it should cost to live here.The Manhattan sales market for residential apartments is split along price lines like never before. And even though that doesn’t sound like good news, it is. While the middle of the market is still recovering and has little inventory, the low-end of the market is thriving and the high-end is out of control in the best way. Want proof? A penthouse with Central Park views in a great Upper East Side pre-war co-op sold for $21 million last week, and no one noticed. It barely registered as news. This goes to show just how commonplace such sales have become, and how the highest sectors of the market have irreversibly shifted expectations toward the extravagant. $14 million for a townhouse here, $18 million for a 3-bedroom here; no big deal. Show people something north of $50 million and then they might be impressed. And it’s not just perception either; recent stats confirm that these numbers are now par for the course.

Manhattan Luxury Living Hits New Heights: Literally And Figuratively

Manhattan skyline at night

There are some lucky New Yorkers who wake up every morning with the feeling of being on top of the world—literally. These are the residents of the amazingly high apartments in several luxury residential buildings around the city who are guaranteed both stunning views and amazing lifestyles. While Manhattan has always been known for its ridiculously tall skyscrapers, the city’s high-rises have become much more prolific now thanks to the fact that these buildings are now offering homes to live in. A case in point would be the historic Woolworth Building in Lower Manhattan, which has traditionally hosted office spaces on its top floors but will now soon be offering luxury homes in those enviable spaces.

15 CPW Double Apartment Selling for $95 Million

15 Central Park West is slated for a $95 million sale.It’s no secret that Manhattan has seen a series of huge sales recently. Listings in Manhattan are carrying some of the heftiest price tags the city’s ever seen, and apartment owners aren’t bashful about it either. The most recent addition to this trend will be on the 35th floor of Manhattan's premier condominium. However, what separates this property from other trendsetters is the fact that the condo is actually two apartments combined together to form one massive 5-bedroom unit. The price tag? $95 million.

Luxury Condos Coming Soon to the Woolworth Building

Luxury Condos are on the way to the iconic Woolworth BuildingThe Woolworth Building, much like the Empire State Building or the Chrysler Building, has been one of the most iconic buildings dotting the New York City skyline. While it is one of the oldest skyscrapers in the whole of the United States, it also is one of the 50 tallest buildings in the country as well. Designed by the acclaimed American architect, Cass Gilbert, the Woolworth Building is a classic neo-Gothic construction and truly deserves both its National Historic and New York City landmark statuses.

"Starchitect" Buildings Weather the Storm

100 Eleventh Avenue's Luxury Apartments and Condos in ManhattanNow that the dust has settled, it’s time to see how the pre-financial crisis wave of upscale Manhattan luxury condominiums built by the world’s best architects are faring. The fortunes of such buildings reveal many important lessons about the Manhattan luxury real estate market - mainly that market trends and location are still bigger factors than architecture. Prices for luxury condominiums in Manhattan are 10% below 2008’s high-water mark, and “Starchitect” buildings are holding up better than most othe luxury apartment buildings in Manhattan. In the short-term, the boom-time mentality that a brand name architect makes a significant pricing difference has dissapated because their values have gone down, albeit not as much as other luxury apartments in Manhattan. But depressed resale prices are only a part of the story. This wave of innovative architecture will still benefit buyers, neighbors, and Manhattanites for decades to come.

Co-ops Carried An Unusually Slow 2011 Sales Market

Manhattan high-end sales market slowed down in 2011For apartments on the Manhattan sales market priced at $5 million or more, 2011 was a mixed bag. Headline stealing deals like the $88 million purchase of Sandy Weil’s 15 Central Park West penthouse obscured larger trends in the market. Overall, the 2011 high-end market was pedestrian: sales rose by less than 1% from 2010. Those gains were unevenly distributed too, as co-ops outperformed all other types of Manhattan luxury apartments. High-end market gains since its 2009 nadir are largely due to the increased presence of eager international buyers - the buyer of Sandy Weil’s apartment was a Russian billionaire - but New Yorkers have been much pickier during that time. And if the high-end sales market in Manhattan is going to fully recover, it needs them to start signing deals.

Permits for New Buildings on the Rise in 2012

New York City building permits riseThe New York Buildings Department released figures recently showing that the number of permits issued for demolition, construction, and new buildings all were considerably higher in the first two months of 2012 than they were during the first two months of 2011. This information comes as further evidence that the Manhattan housing market is taking lengthy strides away from the 2009 lows towards recovery.