Tags: Zeckendorfs | Most Expensive Condo | New York City | NYC

Zeckendorfs to List NYC's Most Expensive Condo at $130 Million

Tuesday, 23 September 2014 04:50 PM

A triplex penthouse at Zeckendorf Development Co.’s tower under construction on Manhattan’s Upper East Side will be offered for sale at $130 million, making it New York’s most expensive apartment listing.

The 12,394-square-foot (1,151-square-meter) property will span the top three floors at 520 Park Ave., where sales will begin the first quarter of next year, Arthur Zeckendorf said in an interview.

The tower’s offering plan, which details units for sale and their prices, was approved by the New York State attorney general’s office this month, allowing the developer to begin marketing the 31 apartments, Zeckendorf said. The building will include seven duplexes of about 9,138 square feet each, starting at $67 million, according to the plans. Single-floor units of about 4,600 square feet will start at $16.2 million.

The triplex would be the most expensive listing for an apartment in New York history, Jonathan Miller, president of appraiser Miller Samuel Inc., said in an interview.

“In the best-case scenario, it is providing a bold stroke to the market, implying that there are buyers out there for this price point,” said Miller, who is also a Bloomberg View contributor.

In plans filed with the attorney general’s office, developers of condos at lower Manhattan’s landmark Woolworth Building said they were seeking $110 million for the penthouse atop the 58-story tower.

The record for New York’s most expensive completed apartment purchase was set in 2012, when former Citigroup Inc. Chairman Sanford Weill sold his penthouse at Zeckendorf Development’s 15 Central Park West for $88 million.


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A triplex penthouse at Zeckendorf Development Co.'s tower under construction on Manhattan's Upper East Side will be offered for sale at $130 million, making it New York's most expensive apartment listing.
Zeckendorfs, Most Expensive Condo, New York City, NYC
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2014-50-23
Tuesday, 23 September 2014 04:50 PM
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