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Some People Pay 202 Percent More for That Central Park View

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Views of Central Park command a premium (especially breathtaking ones), but just how much of one? The folks at PropertyShark crunched the numbers and passed them along to the Journal. And, well, yeah: people pay a lot of money for those park views. The median sale price of an apartment along the park was $1.85 million last year, while the median price for the entire Upper East Side and Upper West Side zip codes around the park was only $850,000. That means direct park neighbors paid 118 percent more. Those who bought co-ops paid 202 percent more?the median on-park co-op price was $2.4 million, compared to $795,000 for the UES and UWS zip codes. The difference was even greater in 2008, when people paid 233 percent more for co-ops on the park. In case that makes any current buyers feel better.
?Chart via Wall Street Journal; data from PropertyShark.
· Putting Price Tags on Views of Central Park [WSJ]
· Market Analysis [Curbed]