The global economy might be pretty volatile right now, but the market for luxury homes seems to be growing. Nine-figure residences across the country have been selling at higher rates over the last couple of years, and now The Wall Street Journal reports that a home in Manhattan is set to be the most expensive in the country, should it actually find a buyer. It's the triplex penthouse at the top of Central Park Tower, which happens to hold a record of its own as the tallest residential condominium on the planet at 1,550 feet. The asking price for the penthouse? $250 million.
If someone actually plunks down $250 million for the privilege of living on the top three floors of Central Park Tower, located on what is known as "Billionaire's Row" for the high prices commanded by properties in the neighborhood. Across floors 129-131 of the tower there's a total of 17,545 interior square feet, plus another 1,433 square feet outdoors.
The penthouse, being marketed as "The One Above All Else," lives up to that moniker in more ways than one. At a purported 1,416 feet above the ground, whoever calls the place home will literally live higher than anyone else in the world, and enjoy views from the highest residential terrace anywhere, so high up that you can actually see the curvature of the Earth with your morning coffee. Despite all the luxuries and amenities offered by the home, it's those views that get some of the biggest emphasis in official marketing materials:
"With four exposures and unobstructed New York City views, the eye skips over the verdant expanse of Central Park, the pulsating lights of the Midtown and Downtown skylines, and the serene waterways that girdle Manhattan and are strewn with passing ships and darting ferries. The vistas from all rooms are beyond breathtaking, so vast and far-reaching one can almost see the horizon bend."
Still, there are some pretty impressive amenities to be found in The One Above All Else, starting with the private elevator for going between the penthouse's three floors. There's also a spiral staircase that acts as a prism for natural sunlight, creating a one-of-a-kind visual effect as it "meanders seductively, mimicking the enchanting paths that weave through the famed park it overlooks" – Central Park, of course. There's a gaming lounge, a media room, an observatory, a library, a private study, and more, and that doesn't even include all the services and amenities included with a residence at Central Park Tower. There you'll find 24-hour concierge service, indoor and outdoor swimming pools, a social courtyard known as "The Terrace Green," a children's playroom, and much, much more.
In addition to the obvious, one of the more understated selling points of this penthouse is the fact that it comes ready-made as a single unit, so despite its massive size it won't require any renovations to make it a single-family dream home. As listing agent Ryan Serhant put it to WSJ:
"You don't have to renovate for four years to create your dream home. It's been built for you."
In the world of luxury real estate, that could actually serve to justify paying $250 million for what would then be the most expensive home in the history of the US. And at roughly $15,000 per square foot, developer Gary Barnett says you could almost see it as a bargain compared to other luxury properties that have sold for that much or even more. He also compared the price tag to what a billionaire might pay for something other than such an impressive piece of luxury real estate:
"There's a bunch of artwork going for $100 million and even $200 million. When you compare that to 17,000 feet of steel and brick and glass at the top of the world, this seems like a relative bargain."
You can take a look at this relative bargain (with an asking price of $250 million) in the video below from Serhant on YouTube.