Far out Friday: One apartment for a quarter of a billion?

by NZ Adviser03 Jun 2016
A New York City four-story apartment, yet to be built, could potentially be listed for $250 million according to an article in the NZ Herald. 

New York real estate experts are calling a lineup of six new super luxury skyscrapers ‘trophy apartments’ around Central Park and its latest is set to appear in 2017. 

The apartment will cover 23,000-square-foot across its four floors and according to its floor plans will include 16 bedrooms, 17 bathrooms, five balconies and an extensive terrace.
 
"These are the trophy buildings of our era, and the foreign buyer clearly fuels this very, very high-end condominium tower market," says John Burger, a broker for the Brown Harris Stevens real estate firm.

The mansion will be part of a 70-story building currently under construction at 220 Central Park South. 

Richard Jordan, vice president of global markets for Douglas Elliman, New York's largest residential real estate brokerage says properties such as these attract investors from regions of the world with unstable economies who are looking for a “safe haven”.

"They believe in the US market, they love New York and they like privacy," Jordan says.

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