One57 Penthouse Sale Breaks Records

One57 breaks residential sales recordThat didn't take long. It’s only been a few months since the $88 million transaction at 15 Central Park West, but a recently purchased property at Midtown West's One57 has already taken its place as the most expensive condominium sale in New York City. Initially listed at $98.5 million, the 10,923 square foot penthouse at the Manhattan high-rise was bought three months ago for more than $90 million, and news of the sale was kept under wraps until yesterday.

While the buyer of the property, along with his or her country of origin, is still unknown, it was disclosed that a family will be using the duplex penthouse as a residence; it was also noted that buyer is someone most people would recognize. The unit at One57 comprises the 89th and 90th floors, with 23-foot ceilings in a grand salon, and in total it was sold for about $8,000 per square foot. While One57 is still under construction, the building is slated to be one of the tallest residential buildings in the world. It will have a Park Hyatt underneath the condominium units, and because of its location, it will boast incredible views of the southern end of Central Park. Since the building opened for sales in December, nearly half of the 92 apartments have been sold.

As New Construction Manhattan has reported, foreign buyers have been splurging with purchases of New York City real estate, with instances like the aforementioned $88 million purchase at 15 Central Park West. This particular transaction also broke records for price per square foot at more than $13,000. Still, $100 million has not been paid for a residence. Although a foreign buyer shared interest in a 13,500 square-foot duplex for between $100 and $150 million at One57, the settlement fell through. It seems as though we'll have to wait and see when $100 million barrier will be broken, but clearly, the market is not falling short with big number deals.