While top-end luxury penthouses in Manhattan are known as being some of the most expensive apartments in the world, none have yet approached the rarified list price that is expected when the triplex penthouse at 520 Park Ave in New York comes to market in the first quarter of 2015.
The Manhattan penthouse occupying the top three floors at Zeckendorf Development Co.’s new 54-story ultra-luxury tower will encompass a spacious 12,394 sq. ft. and include several large terraces with incredible Central Park views. Expected to be offered for sale at $130 million in early 2015 – it is currently slated to be the most expensive condo ever to come to market in New York history.
Bloomberg News reports that the 520 Park Ave Penthouse will be offered at $42 million higher than the priciest condo ever sold in New York City. The mega penthouse is priced far above any rational expectation of “Billionaire Row” apartment pricing and is set to redefine ultra-luxury in New York.
When it’s completed in 2017, the 520 Park Ave Penthouse will be a vertical mansion, the largest apartment on the Upper East Side of the city, purposely built as a ridiculously opulent sprawling residence, providing a distinct elite experience of unparalleled luxury living unlike any other.
“World renowned architect Robert A.M. Stern at 520 Park Avenue has designed another timeless and classic Manhattan residential building. 520 Park Avenue will set a new standard for elegant design on Manhattan’s Upper East Side, and we are certain this luxury residential building will become a landmark in a treasured city neighborhood,” said William L. Zeckendorf.
While 520 Park will be strictly for the most upper crust millionaires and billionaires, with prices starting at $27 million, according to The Wall Street Journal, the other apartments within the building will be just as opulent as the penthouse. Full floor units will consist of four bedrooms, living room, dining room, spacious kitchen and a family room. The expansive duplex residences consist of a living room, library, dining room, eat in kitchen, family room, and 6 bedrooms.
Each residence will feature select-cut solid white oak hardwood flooring in herringbone and overlay patterns and a variety of over 10 exquisite marble treatments. All master bathroom suites will be comprised of two full baths complete with steam showers and soaking tub.
Residents and guests will enter 520 Park Avenue through a double arched entrance with a suspended bronze canopy, leading into a soaring lobby with 25′ coffered ceilings and an impressive and welcoming limestone fireplace. Beyond the lobby is a vaulted salon with a fireplace at each end. The floors and walls in the lobby are limestone with French walnut wood in the wall treatment, and satin bronze detailing. A finely crafted Venetian plaster ceiling carries through with the wood accents as well.
The building itself will be entirely clad in Indiana limestone articulated with French balconies and stone detailing evocative of the great New York apartment buildings of the 1920’s and 1930’s with a multi-story crown toping the tower.
With New York currently in the midst of a frenzied buying spree of Russian oligarchs, Arab princes, and South American billionaires snapping up multi-million dollar apartments because it is considered a relatively safe haven for their capital, is it plausible that the $130 million list price of the penthouse at 520 Park Ave will be surpassed before the building is completed in 2017?