NYC ‘trophy apartment’ could list for $250 million

NEW YORK (AP) — Billionaires’ Row.

That’s what New York real estate experts have dubbed a lineup of a half-dozen new superluxury skyscrapers overlooking Central Park that are home to some of the world’s most expensive apartments.

One penthouse on the 89th and 90th floors of a skyscraper near Carnegie Hall that went for more than $100 million seems almost a bargain compared to what will appear next year in a high-rise being built on Central Park South: a 23,000-square-foot, four-story apartment offered at $250 million.

That jaw-dropping price was contained in documents the developer filed with the state attorney general’s office. Floor plans show 16 bedrooms, 17 bathrooms, five balconies and a massive terrace.

The multi-million dollar question is: Who can afford to buy these places?

“These are the trophy buildings of our era, and the foreign buyer clearly fuels this very, very high-end condominium tower market,” says John Burger, a broker for such properties with the Brown Harris Stevens real estate firm.

The novelty is the prestige of living in sleek, breathtaking skyscrapers with 360-degree views of New York City, thanks to advanced engineering. Coming in 2018 is the Central Park Tower at 111 West 57th St., which at 1,438 feet aims to become the tallest residential edifice in the western hemisphere.

The $250 million mansion in the Manhattan sky is the prize property in the 70-story building that is still under construction at 220 Central Park South. Monthly common charges will be more than $45,000, with annual taxes of about $675,000, the documents show.

For most New Yorkers, there’s a downside to the exclusive real estate phenomenon. These properties are helping push up already record-breaking real estate prices, with a current average of $2 million for a Manhattan apartment.