220 Central Park South

ricardo, May 15, 2014 3:34:57 PM

Set on Central Park between Seventh Avenue and Broadway, 220 Central Park South is one of the most promising contenders of all the buildings in the Ultra Luxury-7 (UL-7) along the 57th Street corridor in New York, as it has some of the best DNA out of the bunch. First, it boasts permanently unobstructed views of Central Park from most units. Second, the building’s architect is the revered Robert A. M. Stern of neighboring 15 Central Park West who, also, is the architect of another UL-7 contender, 520 Park Avenue, and the new Four Seasons Private Residences Downtown at 30 Park Place. Stern knows how to design for the ultra-wealthy set and has had a great track record in this market segment. Finally, Vornado Realty Trust, the heavy weight developer and REIT, which created Bloomberg Tower (aka One Beacon Court), among countless others, is developing the building.

220 Central Park South will have much in common with its elegant neighbor, 15 Central Park West, albeit a much more slender version of its neighbor. The building will feature a limestone façade, classic styling, house and tower combination, and a private car court on 58th Street. The Wall Street Journal reveals that the building will be 950 feet tall and have 100 units over 65 stories. Building permits show that the floor-plate of the building at the base (7th floor) will be 7,440 sq. ft., shrinking to 6,591 sq. ft. from the 48th to 64th floors. Although both buildings have shifted in opposite directions to maximize views, it remains to be seen how both 220 Central Park South and 217 West 57th Street will visually interact with each other once erected. Since 220 Central Park South has permanently unobstructed views of Central Park, however, any interplay between the buildings in the sight lines South of 220 CPS will be offset by the extraordinary and tremendously valuable direct Central Park views.

According to Curbed, Vornado paid $3,868 per square foot for 3,936 square feet of air rights for the development of the building. While this building will be, perhaps, the best out of the UL-7, it might just be the most expensive as well!

Occupancy: TBA    Exclusively marketed by: Corcoran Sunshine

Update March 4, 2015: 220 CPS Offering Plan is Approved and some details have been disclosed by The Real Deal.  Prices are in line with the other UL-7, with an average price of $7,347 per square foot. While the Offering Plan did not have any price tag on the penthouse, the Real Deal quoted sources that indicated it could be between $150 million and $175 million. This would make it the most expensive condo in NYC and in the US.

  To learn more about each of the Ultra-Luxury 7 buildings developing along the 57th Street corridor, click on the links below:

 

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