$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
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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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Updated: September 19, 2022, 8:55 AM
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