building at 220 Central Park South

Vornado says 2016.

It will be interesting to see how many units are sold when the closing start. https://ny.curbed.com/2018/10/17/17991182/nyc-billionaires-row-220-central-park-south-closings

https://ny.curbed.com/2018/10/17/17991182/nyc-billionaires-row-220-central-park-south-closings

I agree. Even though no Apartments have been officially placed "on the market" we know the building as actually been on the market for years. After the first closing we should also be able to find the Schedule A in the offering plan to see what the official asking prices are / were. I wonder what percent sold they are? At this point with 111 West 57th and Central Park Tower there must be a ton of ultra-luxury product on the market plus the resales in One57, etc.

Leave it to the shills at Curbed to show an isolated rendering of this building without CP tower included.

Imagine buying an apartment in 220 CPS and another in Central Park Tower and building a skybridge?

83% sold.
https://therealdeal.com/2018/10/29/vornado-to-make-1b-at-220-central-park-south-which-is-83-sold/

I wonder why they are spacing the closings out so much?

Could they be customizing for individuals?

30, Do you know what is 25A size? How does one find the size easily?

The Schedule A from the Offering Plan says it a 2,394 Sf 2 BR / 2.5 bath

So $5,508 / SF

PS There are some interesting restrictions on the Sale and Leasing of units.

Thank you. So 2015 sale. Current price probably at $5k per square ft or below. Do you get the offering plan from titlevest or through your firm’s resources?

If you go to ACRIS you should be able to find "Declaration of Condominium" (or something like that).

Thank you.

It's interesting that even though they said they were 83% sold in over nine months of closings they have only closed less than 35% by number of units.

I still see a lot of construction there. It seems like apartments are being finished in stages.

Do you think it might be owners buying raw space and doing custom?

That may be true in some case. For example Ken Griffin's purchase. However, the looking from the 58th street, there is lot of building related work happening. It is still a construction zone. I am sure there a very nice entrance without construction as well.

https://ny.curbed.com/2019/7/31/20747333/220-central-park-south-jean-georges-residents-only-restaurant

I think they used to have these 100 years ago.

Trying to copy 15 CPW?

I passed by Central Park entrance. Very beautiful, classic, and may I call it a little daring with light green marble trim. Also notices that south facing side and Extel new development Central Park Tower are virtually on top of each other. Very tight for such tall buildings.

Seems more that $1.7b closed using appx numbers.

It has killed the rest of 57th street.

Yet still barely more than 50% sold after (quietly) being on the market for over 4 years. Perhaps Roth will eventually regret some of those buyers he turned away.
https://ny.curbed.com/2016/6/23/12015902/220-central-park-south-buyers-interview-process

And if $1.7 billion is all the juice Billionaire's Row has over 4 years (i.e. "It has killed the rest of 57th street") how are they going to move the ?9 billion? worth of units which still need to get sold?

We can always rely on you put bearish spin on every thing. Believe the apartments are being finished one by one in 220 CPS.

He's being realistic.

Appears to be the first attempt at a resale https://ny.curbed.com/2020/1/22/21077256/for-sale-in-nyc-220-central-park-south-billionaires-row-stern

Bought December 2018 for $26.2 million, back on the market asking $36 million (almost $10,000/SF). Is that a possibility in today's luxury market?

$36m and you don't even get doors on your kitchen. Only poor people have kitchens in their living room.

Kitchens are only for show - no one actually uses them anymore except for the microwave - LOL. There was at least one project I saw which had the usual "show kitchen" open to the living room and then an actual enclosed working kitchen directly behind it (although I thought in NYC having more than one kitchen in an apartment was against code - or is that just for combined units?).

But more seriously it seems almost all new construction has open kitchens, or worse just some cabinets and appliances up against one wall In the living room or foyer/entrance. Ironically these same types of Pullman kitchens used to be viewed extremely negatively by buyers. Personally I absolutely cannot stand this as an architectural trend.

PS Having a swinging door into an open kitchen seems like a weird mixed message.

The resale I mentioned above is still on the market, now reduced to $33 million. Today it was joined by 36B asking $26.9 million.
https://streeteasy.com/building/220-central-park-south-new_york/36b

Also 8 rentals from $35k to $80k. I wonder how many renters are currently looking in that price range?

At this point, I think it’s just me.