With land, development and construction costs clocking in at $5,000 per square foot, no wonder why prices at 220 Central Park South in NY are breaking records. While one would think high prices and related costs would be an impediment to sales activity, the Real Deal states that the building is more than 50% sold, despite not being open to the public just yet. We are not surprised, having seen all the details of the project with a few of our clients at the makeshift showroom.
All along we have been saying that 220 Central Park South, once completed, would be NYC’s crown jewel of New York Condo buildings, as it has protected views of Central Park and elegant and sophisticated designs by revered architect Robert A.M. Stern. This will be NYC’’s most prized tower, like 15 Central Park West, which shares the same architect.
The only building that is anticipated to have a higher sellout (at a whopping $4.4 billion of condos) is Central Park Tower (aka Nordstrom Tower or 217 West 57th Street), which sits directly south of 220 Central Park South. Central Park Tower will, no pun intended, tower over 220 Central Park South by 50%, making it the tallest New York Condo building in Manhattan. But, that tower won’t be on sale for another couple of years. For more information about the project, contact Anthony Guerriero.
Read the full article at: ny.curbed.com