Why This NYC Apartment Costs $28.5 Million
We set out to find out why this apartment is $28.5 million and learn about the history of New York's real estate market along the way. The reality TV star and top NYC broker Ryan Serhant delves into the details of the super-rich real-estate and who the buyer could be.
Following is a transcript of the video:
Narrator: A couple months ago, I was scrolling through YouTube and saw this video of an apartment on Billionaires' Row in New York City. It's on the 41st floor of this ultra-luxurious tower called On e57. Sitting right off West 57th Street with views of Central Park, it's listed at a whopping $28.5 million. It's hard to comprehend why it's so expensive and if there's even a market for it. So I reached out to the realtor, Ryan Serhant, hoping he could help me unpack the world of Billionaires' Row. You may recognize Ryan from Bravo's Million Dollar Listing. And he invited me uptown to check out On e57 for myself. Ready, we're going there. One57 towers almost a thousand feet above West 57th Street. But before the building opened in 2014, this wasn't really a residential street. It was known for Carnegie Hall, tourists, and delis. But One57 put West 57th Street on the map, breaking records for listing prices and coining the street Billionaires' Row. The first 27 floors of One57 are reserved for the five-star Park Hyatt hotel, but the next 48 are residential. Walking in, I was actually pretty surprised by how homey it felt. Yeah, the lobby was classy, but there was this familiar and casual buzz of people just living their normal lives, and that was really nice. We took the elevator to the 41st floor and met Ryan at apartment 41D.
Ryan Serhant: Hello. Welcome to One57.
Narrator: Right away, it's gorgeous. 12-foot ceilings, exquisite decor, and that new building smell. But it's those views that obviously add to the price tag.
Serhant: This unit that we're in right now, 41D, is a duplex. It's got five bedrooms, five and a half bathrooms, and it has an outdoor covered garden.
Narrator: Apparently, that outdoor garden, or the solarium, is a rare architectural feature.
Serhant: The building kinda curves as it goes up. It keeps stepping back, you create these rooms. So you can sit here, you can get a tan, for the 41st floor on Billionaires' Row. It's totally crazy.
Narrator: Just off the solarium, there's a private terrace, and it's one of just two apartments in the building with an outdoor space. After the views and solarium, the duplex layout of the apartment keeps the price tag ticking up. The second floor has four bedrooms, including the master suite, with arguably better views than the floor below. The en suite master bathroom is made completely of marble, imported from Italy, of course. You've got a walk-in shower, free-standing tub, and two toilets, you know, just in case. Back downstairs, the massive eat-in kitchen had a couple hidden features.
Serhant: Like this looks like it might be cabinetry, but it blends in. These are actually your bar stools.
Narrator: Around every corner, there was some new design element. A fluffy chair, a perfectly sized rug, that optimized the space. It made for this relaxed, luxurious vibe. And, of course, none of that was by accident.
Serhant: And even if the buyer has $30 million to spend, you'd be amazed at how unimaginative they can be. So, we have to show them. And everyone we've shown this apartment to would take it fully furnished, 'cause they just love it.
Narrator: Buyers can choose to keep all of the staged furnishings, and thank goodness, the price tag includes the furniture. But what's a billion-dollar building without amenities to match? On the 31st floor, residents get a giant amenities space all to themselves. There's a billiards room, screening room, gym, and a pool, with music piped in from Carnegie Hall across the street. But the never-ending climbing wall was definitely my personal favorite. This isn't what I anticipated doing today. Since its construction, One57 has pushed up real estate prices across the neighborhood. From 57th Street to 59th Street between Park Avenue and Broadway, median sale prices rose 64.3% from 2010 to 2018.
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Why This NYC Apartment Costs $28.5 Million
Luxury Apartments in New York City (2022)
New York City. Home of bagels, pigeons, and infamously expensive apartments. In NYC, the penthouse has come to serve as an indicator of wealth and power, a symbol of its owner’s almost-mythic level of lavish living. New York contains some of the most coveted and expensive luxury properties in the world. And if you are thinking, who is choosing these ultra-expensive abodes then here is a fact for you, New York is the number 2 richest city in the world where 99 of the world’s billionaires have chosen to reside.
So, it is common sense for the NYC developers to build some over-the-top apartments and in this video, we will be looking at the most expensive million dollar listings in NYC.
Why This Billionaire's Row NYC Apartment Is Valued At $28.7m | Luxury Listing Price
111 West 57th Street is a luxury high-rise building found on Billionaires' Row in New York City. Real estate broker Amy Williamson shares a tour of Residence 43 that is currently listed at $28.75 million.
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Why This Billionaire's Row NYC Apartment Is Valued At $28.7m | Luxury Listing Price
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Breathtaking Iconic Residence in New York, New York
Presented by Sotheby's International Realty - Downtown Manhattan Brokerage
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Residence 52-A is a full-floor condo unit with spectacular 360 degree skyline views. This 3-bedroom, 3.5-bath home offers an exceptional approx. 3,310-square-feet of living space in one of the most desired neighborhoods in Manhattan.
Property ID: DZM9C4
New York Penthouse
This sumptuous suite is the perfect intimate escape. Mix your favorite drinks at the Martini Bar and chill out in the jetted tub while enjoying your favorite music or movies. Unwind at the mini putting green, or return to the country with your own private patio, facing the Moat Mountains and Cathedral Ledge.
The New York Penthouse is the ultimate in uptown luxury.
My $24,000/month New York City Apartment! (Luxury Apartment Tour)
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Welcome to my new $24,000/month New York City apartment!
Ha, I wish...but I wanted to explore some luxury New York City apartments so I hit up all of the top realtors in the city and got access to this stunning 3 bed, 3 bath, 2,000 sq ft luxury apartment in the Upper West Side.
Located on West 63rd Street, this luxury New York City apartment costs $24,000/month to rent or $9 million to buy. The sweeping views of Central Park and Midtown Manhattan are one of its key selling points.
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NYC Apartment Tour: 3.3 MiLLION $ Luxury Apartment! ????????
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NYC Luxury Apartment Tour: Million Dollar Listing
NYC Luxury Apartment Tour: Million Dollar Listing at 277th Fifth Avenue in NoMad Manhattan. Enjoy panoramic views of the Empire State Building, Chrysler Building, Flatiron Building and the One World Trade Center. This million dollar home is a two bedroom, two bathroom suite with walk in closets and comes with all the best luxury NYC apartment amenities for $3,115,000. Thank you everyone for watching and if you haven't already I would love it if you could please share this video with friends and click subscribe:
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Inside a $67M NYC Mansion with an Entire Spa Floor | On the Market | Architectural Digest
Join NYC real estate broker Richard Steinberg for a tour of a $67M New York City mansion. This Upper East Side building features an indoor spa floor with pool and massage room, a 3-story indoor glass atrium and outdoor spaces on each of the 6 floors.
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A True Entertainer’s Loft in Tribeca, New York, New York | Sotheby's International Realty
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This duplex penthouse in the heart of TriBeCa offers over 3,026 sq-ft of interior space, along with three spectacular outdoor spaces, including a private rooftop with panoramic views of Downtown and the Hudson River. With floor-to-ceiling windows encompassing entire walls of glass, and soaring 18-foot-high ceilings, this open and airy home is bathed in light all day.
Property ID: 3QK8VP
$95 Million View: Inside NYC's Tallest Apartment | Mashable
The new 432 Park Avenue is the tallest residential building in the Western Hemisphere. It's the first in a wave of new super-tall apartment buildings coming to New York’s skyline. Its top-story penthouse, which recently sold for around $95 million, boasts a view of the city that one would usually need a helicopter to behold.
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NYC Apartment Tour | Furnished Studio in Tribeca, New York
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What 2 5 Million can get you in NYC | Inside NYC's Best Kept Secret Building (Part 2 of 3)
Located in the two bridges neighborhood of Manhattan, New York City. Enjoy this luxury apartment tour (two bedroom, two bathroom) - you will not find a better value in NYC.
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Ubicado en el barrio de los dos puentes de Manhattan, Nueva York. Te llevamos en un recorrido de uno de los apartamentos más lujosos de la cuidad (dos dormitorios, dos baños) - no encontrará una mejor calidad o precio en la ciudad de Nueva York.
La Chapulina Verde ayuda a muchas familias a encontrar su hogar, a invertir en su futuro, y asegurar el bienestar de su familia. Si usted está buscando comprar su primer hogar, una propiedad de inversión, o vender las propiedades que tiene para empezar una nueva fase de su vida, La Chapulina está aquí para guiarle a usted y a su familia.
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Open House New York | The Woolworth Tower Residences
THE WOOLWORTH TOWER RESIDENCES award-winning restoration is now complete and available for immediate occupancy.
The Woolworth Tower Residences offers a club-like intimacy, surrounded by award-winning restaurants, hotels and shopping. Offering white glove service in a resident-only lobby and amenities including the Gilbert Lounge, Woolworth Pool, Fitness Studio, Wine Cellar & Tasting Room, and on-site parking. Originally commissioned by retail magnate F.W. Woolworth, architect Cass Gilberts 792-foot tall neo-Gothic masterpiece continues to capture the imagination and grace the world’s most famous skyline.
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$28.5 Million New York City Apartment...........Reaction! *Mind Blown*
I think this could easily be one of the best apartments in Manhatten!
2 Charlton Street, #1AB, Soho
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This gorgeous $18.5 million loft used to be a NYPD gym
This 6,600-sq-ft apartment was converted from an old NYPD gymnasium. Located at 240 Centre St. in Manhattan, the building used to be NYPD headquarters from 1909-1973. It's now up for sale for $18.5 million.
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BEST HOMES IN NEW YORK CITY | Inside MUST SEE Luxury Apartments
Elegant apartments with floor-to-ceiling windows and sought-after amenities like a pool, and roof deck in the clouds of the Financial District.
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Penthouse in Palo Alto, Marbella
This penthouse features a large roof terrace with a private pool, outdoor kitchen with a bbq and a chill out area, a main terrace with a jacuzzi and absolutely the most spectacular sea and mountain views on Costa del Sol.
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