Only The 1% Will Be Able To Afford NYC's Priciest Apartment
Mar 28, 2014 01:18
Designed by Robert AM Stern and located at the crown of a luxury tower on Park Avenue, this three-level private terraced penthouse is priced at a cool $10,000 per square foot. Here's a rendering of what it will look like inside:
Each residence measures a total of 12,400 square feet, which means living large in this penthouse will cost you at least more than $120 million.
Despite what you might think, this fancy residence is not exactly selling like hot cakes. Brokers are worried that the insane price tag would mean there won't be enough prospective buyers:
Although the number of listings in Manhattan shrank to the lowest levels in at least a decade, there is now about a 31-month supply of apartments and houses priced at more than $10 million... These don't include high-priced apartments at new developments that aren't routinely shown in New York's main broker listing system.
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