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Price per foot nudges towards $10,000 in top ten NYC condo sale list

In the battle over ultra-luxury condo buildings in 2016, the top sales per square came down to old classic versus new development.

Of the five most expensive condo sales by price per square foot, 432 Park Avenue claimed three spots while 15 Central Park West took the other two.

A list of the top 20 sales was compiled by StreetEasy, which used data from the New York City Department of Finance.

The Zeckendorf brother’s Robert A.M. Stern-designed 15 CPW (picture top) that took the top spot, with the sale of unit #38A for $28 million last June, a 2,846 s/f apartment that sold for an eye-popping $9,838 p/s/f.

“We are very pleased with the resale prices that 15 CPW has commanded and the confidence that buyers have shown in this iconic best-in-class condominium development,” said Arthur Zeckendorf, co-chairman of Zeckendorf Development, in a statement to Broker’s Weekly.

ARTHUR ZECKENDORF

ARTHUR ZECKENDORF

The Zeckendorf’s 15 Central Park has attracted big-name buyers since before it was even completed in 2008.

The famed building broke the record for most expensive apartment ever sold in New York City in 2011, when Russian billionaire Dmitry Rybolovlev purchased an apartment for $88 million for his daughter Ekaterina.

Notable residents of the building have included many executives in the finance world, like Goldman Sachs CEO Lloyd Blankfein, who paid $25.7 million in cash for a corner unit duplex in 2006, and former CitiGroup CEO Sandy Weil, who bought a full-floor penthouse for $43.7 million in 2007, breaking the record for price p/s/f in NYC at the time. Weil later sold the apartment to Rybolovlev.

Other celebrities that live or have lived at 15 CPW include Denzel Washington, Sting, Alex Rodriguez, Bob Costas, race car driver Jeff Gordon, Kelsey Grammar, and Mark Wahlberg. Both of the Zeckendorfs — brothers Arthur and William Lie — purchased discounted units at the building for $11.5 million. William later sold his for $40 million.

The swanky apartment building was the subject of a book published in 2014 by Michael Gross titled “House of Outrageous Fortune: Fifteen Central Park West, the World’s Most Powerful Address.”

432 Park Avenue

432 Park Avenue

Number two on the list was Harry Macklowe’s cloud-busting 432 Park Avenue, with unit #87A, a 4,028 s/f apartment sold last OCtober for $32.8 million, at $8,163 p/s/f. Macklowe’s billionaire-baiting tower dominated the sales list, with nine out of the top 20 sales p/s/f.

Developed by CIM Group and Macklowe Properties, the 84-story 432 Park made a splash in the ultra-luxury residential market, as the second tallest building in NYC and the tallest residential building in the world, topping out at 1,396 feet.

The building has also attracted high-profile buyers who have purchased units at sky-high prices, including Douglas Elliman chairman Howard Lorber, who bought an apartment for $15 million at the building last year, Saudi Arabian retail magnate Fawaz Al Hokair, who shelled out $87.7 million for the full-floor penthouse in 2016, and Jacob “The Jeweler” Arabov, whose clients include Kanye West and Gisele Bundchen, who bought a $16.7 million pad at the building last March.

The lone building besides 15 CPW and 432 Park in the top 10 was Extell’s One57, which sold unit #83 in early December for $45.8 million, a 22 percent discount on its listed price of $58.5 million but still a record-breaker at at $7,344 p/s/f.  The four bedroom, full floor apartment was scooped by a British furniture billionaire .

One57

One57

The top 20 sales were split among just seven buildings, and along with 432 Park Avenue and 15 CPW, the other buildings on the list are The Plaza Hotel Residences, or 1 Central Park South, which claimed the 14th and 15th spots, 212 West 18th Street, JDS’ Walker Tower, which took 12th place, 150 Charles Street, Steve Witoff’s West Village building, which sold Penthouse B in December for $24 million at $5,246 p/s/f, the Ritz Carlton, at 50 Central Park South, and the Baccarat building at 20 West 53rd Street.

Below is the full list of the most expensive condo sales of 2016 based on price per square foot.

1. 15 Central Park West, #38A, sold on June 23, 2016 for $28 million, or $9,838 psf.

2. 432 Park Avenue, #87A, sold on Ocotber 17, 2016 for $32,881,795, or $8,163psf.

3. 432 Park Avenue, # 84A, sold on August 25, 2016 for $21,389,503, or $8,124 psf.

4. 432 Park Avenue, # 73A, sold on Ocotber 17, 2016 for $30,122,241, or $7,495 psf.

5.  15 Central Park West, #37C, sold on December 9, 2016, for $20,625,000, or $7,470 psf.

6.  432 Park Avenue, #77A, sold on September 20, 2016 for $19,629,467, or $7,455 psf.

7.  157 West 57th Street, #83, sold on December 2, 2016, for $45,824,750, or $7,344 psf.

8. 432 Park Avenue, #66B, sold on December 14, 2016, for $29,042,362, or $7,226 psf

9. 432 Park Avenue, #71-A, sold on May, 27, 2016, for $28,890,481, or $7,188 psf.

10. 432 Park Avenue, #82A, sold on September 9, 2016, for $18,572,987, or $7,054 psf.

11. 432 Park Avenue, #65A, sold on June 22, 2016, for $27,042,203, or $6,729 psf.

12. 212 West 18th St. #PH2, sold on June 10, 2016, for $45,000,000, or $6,679 psf

13. 20 West 53rd Street, #PH, sold on June 9, 2016, for $42,550,000, or $5,765 psf.

14. 1 Central Park South, #1203, sold on January 19, 2016, for $11,353,487, or $5,720 psf.

15. 1 Central Park South, #1101, sold on July 13, 2016, for $14,500,000, or $5,459 psf.

16  432 Park Avenue, #55A, sold on December 22, 2016, for $23,874,942, or $5,351psf.

17  50 Central Park South, #24B, sold on November 12, 2016, for $20,500,000, or $5,263 psf.

18.  150 Charles Street, #PHB, sold on December 7, 2016, for $24,183,437, or $5,246 psf

19.  157 West 57th Street, #62A, sold on October 21, 2016, for $23,500,000, or $5,242 psf.

20.  15 Central Park West, #2-B, sold on June 2, 2016, for $5,300,000, or $4,977 psf.

Sources: StreetEasy

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