November 19, 2007
Most Expensive Condos in Manhattan
Sun Microsystems co-founder Bill Joy, is selling the massive Manhattan apartment that he bought five years ago - but never moved into. The price? - $40 million.
The apartment, designed by Richard Meier overlooks the Hudson River. The asking price is likely the highest ever for a downtown Manhattan residence, once again proving that whatever happens on the ground floor of US real estate, rarely affects property further up the food chain. Should the Condo sell at this price, Mr. Joy will have more than doubled his investment.
Downtown Manhattan seems to be catching up with uptown levels, although the record is still held by the Time Warner Building, selling a single condominium for $45 million – unfinished in 2003. TWC is one of the largest, most expensive multi-use developments constructed in New York City. This building houses the world headquarters of a major corporation; 211,00 square feet of additional office space; three jazz performance halls; almost 200 luxury condominiums; a high-end retail mall “The Palladium”; and a 251-room, five star Mandarin Oriental Hotel.
The rumored sale of the Pierre Penthouse for somewhere between $50 and $70 million may put things back in perspective.
Filed under U.S.A by Mark Knowles
Comments on Most Expensive Condos in Manhattan »
Price Cutting Fails to Boost U.S Home Sales » I.P.I. @ 4:17 am
[...] real question is when is enough, enough? At the top end of the market, things seem to be business as usual, but, clearly the mid and lower market was in need of a shake [...]
I think for the people, who are interested in buying such a luxurious flats, the price is not the issue. As a real estate agent I have a lot of clients, who don´t care about price, but are looking at the condos as an investment, even though they wants to use it for private purposes. And one thing is certain, the value of luxurious flats is increasing a bit a faster than the value of an average flat.
Toronto realtor’s last blog post..Gods & Monsters
Most Expensive Condos in the World » I.P.I. @ 11:12 am
[...] forty million dollars seems like a high price for a single condo in Manhattan, that’s probably because it is. We recently reported that Sun Microsystem founder Bill Joy [...]