The Central Park Tower in Manhattan was completed earlier this year, but vacancy stands at a paltry 85 percent.
A 93rd-floor unit atop the world’s tallest residential building has sold for $28.5 million.
Located at 217 West 57th Street in Manhattan, Central Park Tower was fully completed in 2021 by Adam Smith + Gordon Architecture and is currently the second-tallest skyscraper in the U.S. and the tallest residential building in the world. Last week, buyers Cindy K. Chan and Hung P. Wong paid $10 million below the $38.5 million asking price for a four-bedroom, 4½-bathroom unit on its 93rd floor.
The entire building tops off at 1,550 feet and 136 stories.
Envisioned as a modern ultra-luxury skyscraper, Central Park Tower was built over the course of five years and includes an outdoor terrace with a pool, screening room, private elevators and a children’s playground. Collectively, the buildings along 57th Street and Central Park are known as “Billionaire’s Row” due to the sky-high real estate values and plethora of wealthy individuals who line the block.
However, amid the coronavirus pandemic and a general preference for living on lower levels, units within the building haven’t been selling fast, with only 15 percent of the 178 units in the building presently sold to owners, according to Kael Goodman’s Marketproof.
“The perspective is actually a little better in the 28th-to-40th-floor range, depending on the neighborhood,” Herbert Chou of Christie’s International Real Estate said of buyers’ changing preferences in 2019. “From a penthouse, you are looking down. You are so far up that you are detached from your surroundings.”
Email Veronika Bondarenko