Saturday, January 5, 2013

What do you get for $100,000,000 in New York?

The penthouse on the 73rd, 74th and 75th floors of CitySpire, 150 West 56th Street, has been on the market last July for $100,000,000, but as I don’t have many customers (OK, no customers) in that price range, it didn’t come to my attention until I read  ’s article on “America’s Priciest Listings of 2012.” 
The listing is the highest priced in New York, but it only ranks fifth in the country, after three in Los Angeles priced at $150,000,000 each and one in Miami at $125,000,000.

Raphael DeNiro of Douglas Elliman's $100,000,000 listing. 
So what do you get for your $100,000,000?
About 8,000 interior square feet broken up into seventeen rooms (that’s what the listing says; I counted only fifteen on the floor plan).

That would be six bedrooms, a dressing room, a media room, formal dining room, kitchen, service hall, conference room and sitting room. 

The price includes a separate apartment with bedroom, bath and kitchenette on a lower floor for staff or extra guests. 

The apartment has three half baths on the public floor, four full baths on the bedroom floor, one bull bath in the staff/guest apartment and one full bath on the master bedroom floor (personally, for $100,000,000 I would expect his and hers bathrooms off the master bedroom, but hey, you can't have everything), plus about 3,000 square feet of outdoor space.

You also get a lot of stuff that makes for great brokerbabble (that’s what Curbed calls the descriptions brokers write of their listings)—columns, coffered ceilings, a Versailles patterned floor and a private internal elevator.

But the most important selling feature is the 360 degree airplane view.

At 8,000 interior square feet, the price works out to $12,500 per interior square foot.   If you count the 3,000 square feet of terrace at half the value of the interior sf, as appraisers often do, it’s a bargain at only $10,526.32 psf. 

So if you’ve got an extra $100,000,000 lying around the house, you might want to check this out:  And if you like it, call Raphael.  I’m commenting on this strictly as a blogger, not a broker.

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