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New York’s most expensive condo is 15 Central Park West

The building had the highest average price per square foot last year

Via NyConstructionPhoto

Despite the onslaught of new luxury condo buildings in New York City, 15 Central Park West can still call itself the city’s priciest condo building. The intel comes by way of the CityRealty100, in which the real estate listings website tracks the yearly goings-on of the city’s 100 best-selling condo buildings.

Just eight apartments sold at the Limestone Jesus between July 1, 2016 and June 30, 2017, the period surveyed in this year’s report, but the average price per square foot of those sales came in at $7,227, boosting the building to the top of the list.

It was succeeded by 432 Park Avenue, whose 45 sales this past year had an average price per square foot of $5,930. In third place came the Residences at the Mandarin Oriental ($5,215), followed by Superior Ink ($4,858), Walker Tower ($4,718), Time Warner Center ($4,638), and One57 ($4,282). (Although Residences at the Mandarin Oriental and Time Warner Center condos are in the same development, CityRealty distinguishes them because they have two separate addresses.)

According to this year’s report, the average PPSF for the city’s top 100 buildings came in at $2,788, a nine percent increase from last year’s figure. CityRealty attributes the rise in price to closings in 432 Park Avenue and One57, and continued high pricing in properties like 15 Central Park West.

The report found that the most expensive neighborhood over the past year by PPSF is Midtown East, likely owing to 432 Park Avenue. The neighborhood’s average PPSF foot came in at $4,185, with an average sales price of $14.1 million. Midtown East was succeeded by Central Park West ($3,758, $8.4 million), Greenwich Village ($3,570, $9.1 million), and Tribeca ($3,042, $7.7 million).

The most expensive sale this year in the buildings tracked is the $65.7 million deal for an 85th-floor condo at 432 Park Avenue, the building’s second-priciest sale on record. Following in second is the $65.2 million deal for an 83rd floor apartment in the same building.

The most expensive sale by PPSF goes to Penthouse 40B at 15 Central Park West, at $9,581/square foot for a total cost of $50.5 million. The Limestone Jesus claims the top three spots on the list, with the sale of 26A at $8,857/square foot and 35D at $8,824/square foot following for the second and third spots.

CityRealty forecasts that the average PPSF in the city’s most expensive buildings will only go up in 2018, and will potentially peak above $3,000 for the first time.

One57

157 West 57th Street, Manhattan, NY 10019 Visit Website

Superior Ink

400 West 12th Street, Manhattan, NY 10014 Visit Website

Central Park

59th St to 110th St, New York, NY 10028 Visit Website

432 Park Avenue

432 Park Avenue, New York, NY Visit Website

Walker Tower

212 West 18th Street, Manhattan, NY 10011 Visit Website

Time Warner Center

10 Columbus Circle, Manhattan, NY 10019 Visit Website

15 Central Park West

15 Central Park West, Manhattan, NY 10023