$250m New York apartment hits the market as most expensive in the US

It is set in Central Park Tower, which is the world's tallest residential building

The property is situated in Manhattan's Central Park Tower, which is the world's tallest residential building at 1,550ft. Photo: Extell / Instagram

An apartment in New York has been listed on the market at $250 million, making it the most expensive in the US currently. It will set a record if it sells at that price.

The property is situated in Manhattan's Central Park Tower, which is the world's tallest residential building at 1,550 feet tall.

It might be some way short of Dubai's Burj Khalifa at 2,722ft, but the world's tallest building is more than only residential with a hotel and offices included.

The triplex penthouse spans the 129th to 131st floor and has more than 17,500 square feet of indoor space and a terrace providing more than 1,400 square feet of outdoor space.

"Transcending the concept of a trophy property into a league of its own, with the Earth’s curvature visible to the naked eye from the 131st floor," developer Extell said in an Instagram post.

"Gary Barnett, the founder and chairman of Extell, emphasised that the building’s height makes the penthouse 'unique in the world'. How many things can you really say that about?”

Central Park Tower looms over Central Park in Manhattan. Photo: Extell / Instagram

The tower is on 217 West 57th Street on what is known as Billionaires' Row. It has seven bedrooms, 11 bathrooms and 27-foot high ceilings.

It was designed by architect Adrian Smith + Gordon Gill Architecture and has 179 units.

The apartment is being listed by Ryan Serhant of the Serhant brokerage. “It’s a new paradigm now. The uber-wealthy are looking for places to diversify assets, and real estate has become one of the most popular and sought after mega-assets. The levels have exploded," he told The Wall Street Journal.

New York was among the best-performing prime residential markets in the world in the first half of the year, Savills said.

The Central Park Tower triplex has extremely high ceilings allowing for fabulous views across the city. Photo: Extell / Instagram

The city recorded capital value growth of more than 4 per cent in the six-month period. However, it was behind other US cities such as San Francisco, Los Angeles and Miami, which had a world-leading growth of 12.5 per cent.

"San Francisco and Los Angeles prime capital values have surpassed their pre-pandemic price levels, while New York City is yet to reach its 2017 peak," Savills said.

Property rents, meanwhile, soared to record levels in the city during the summer amid record-high inflation.

The median one-bedroom rent throughout the city was up by nearly 40 per cent on the year in August, the Zumper National Rent Report found, while the two-bedroom median was up by about 47 per cent.

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Megaprojects: 10 tallest buildings in North America

875 NORTH MICHIGAN AVENUE, CHICAGO, 343 metres: Formally the John Hancock Building, back in 1968 this was the second tallest building in the world. A major tourist attraction with an open air sky deck and a 95th floor restaurant, it will lose its American top ten place with the opening of Chicago’s 365m Vista Tower later this year, incidentally the world's tallest building designed by a woman, Jeanne Gang

AON CENTRE, CHICAGO, 346 metres: Back in 1973 this was once the world’s tallest marble clad building until a rethink caused by a huge slab falling off. Eventually re-clad in the 1990s, it was originally named after Standard Oil until it was bought by the Aon Corporation in 1999

BANK OF AMERICA TOWER, NEW YORK, 365 metres: So environmentally friendly that it includes bee hives on its rooftop and rainwater collection, this is also one of New York’s most valuable office buildings and was completed in 2009. AFP

EMPIRE STATE BUILDING, NEW YORK, 381m: It may no longer be the tallest building in the world, or even in New York, but the old lady is still a class act. Completed at breathtaking speed in barely a year by 1931, this American icon is instantly recognisable everywhere. It has featured in dozens of films, including 'Sleepless in Seattle', 'Independence Day', and of course, that incident with the giant gorilla. AP

30 HUDSON YARDS, NEW YORK, 387 metres: Opened in 2019 on the site of a subway train storage facility, New York’s fourth tallest building also includes the second highest observation deck in the western hemisphere after Toronto’s 553m CN Tower, which is classified as a tower rather than a building. AFP

TRUMP INTERNATIONAL HOTEL AND TOWER, CHICAGO, 423 metres: It was inevitable that any top ten list would eventually see the president of the United States muscle his way in. Construction was overseen by Bill Rancic, his prize for winning the first series of The Apprentice in 2004. AFP

432 PARK AVENUE, NEW YORK, 425 metres: A residential building on what is sometimes called “billionaires’ row”, and with prices of its 125 condominiums to match its height. The floor space is actually taller than One World Trade Centre. Complete with a private restaurant for residents, it was completed in December 2015. AFP

ONE VANDERBUILT, NEW YORK, 427 metres: This stands next to the famous Grand Central Station in Manhattan. Completion was delayed for a month by Covid-19, with New York’s latest landmark including an observation deck and restaurant by top chef Daniel Boulud. AFP

WILLIS TOWER, CHICAGO, 442 metres: Until 2009, this was the Sears Tower, and the last building in America to hold the title of world’s tallest. Completed in 1973, it is now the 23rd tallest in the world. The main tenant is American Airlines. AFP

ONE WORLD TRADE CENTRE, NEW YORK, 541 metres: Rising literally from the ashes of the World Trade Centre, this is North America’s tallest building and the only one to make it into the global top ten. A fierce debate raged over what would replace the twin towers destroyed on September 11, 2001, and this patriotic structure at 1776 feet was the eventual winner. AFP