Looks like Central Park South will take center stage for having the most expensive residence in New York City. Yes, for only a mere $250 million dollars you can live in a 4-story mega home at 220 Central Park South with expansive views. Should you feel bored and jaded with your views from your estate you can always find fulfillment in the following amenities: yoga and Pilate room, state-of-art fitness center, children’s nursery, fitness room, treatment room, swimming pool, squash/basketball/golf court, library, game room, residence dining area, and meeting room. This building is sure to entertain anyone’s palette for diversity. If not then you can also try Pokémon Go in the various locations around the city! 220 Central Park South will eventually rise 70 stories and be completed sometime in 2017. There will be more than 100 condos (including that $250 million palatial apartment). Some of these will be highly coveted due to their villa style design. Vornado Realty Trust is developing the tower project with a true luminary architect, Robert Stern.
So who can afford these units?
Mostly foreign investors that’s who. Since Britain’s vote for Brexit, chief economist Victor Calanog with REIS has said, “Markets detest uncertainty, and if New York real estate is perceived to be a relatively safe haven compared to options in the U.K., then that will benefit demand for properties in NYC in the near-term.”
The US residential market in NYC is a mega safe haven for investment properties. Let’s face it; many foreign countries right now are going through economic turmoil. Here in NYC it seems that the best time to buy, was yesterday.