Kathryn Farrell in Co-op/Condo Buyers on May 23, 2014
As an investment, condos hold up. CityRealty compared the growth in the price per square foot over the last ten years to growth in other investment markets, such as the S&P 500, the price of oil and the price of gold. Condos grew in value by 5.30% per year.
The most expensive condominium in the city is 15 Central Park West. The top five is rounded out by two buildings in Columbus Circle; One Madison; and Superior Ink, at 400 West 12th Street in the West Village.
And the unit that sold for eight figures? That would be the triplex penthouse at One Madison, a five-bedroom, 5 1/2-bath, 6,850-square-foot apartment. But the most expensive per square foot was the second most expensive overall: Apartment #64CE at the Time Warner Center. With five bedrooms, six baths and 4,366 square feet, it sold for $30 million — a cool $6,871 per square foot. We ain’t in Kansas anymore, that’s for sure.
You can download the report here.
Engage, enrage, ask questions and give answers with your community of board members. Submit your questions and comments here!
Co-op and condo board business broken down into bite-sized bits - 2 stories each week. Read now on all digital devices.
A free digital resource for co-op/condo board directors. Published twice a month. Read now on all digital devices.