From the 57th Street corridor, as one goes higher in these buildings, the views open up to the most spectacular sweeping views of Central Park’s landscape. In addition, the Billionaires Row NYC views are breathtaking. The proximity of the 57th Street corridor to Central Park’s southern edge has fueled this ultra-luxury building boom with some of the most glamorous apartments in Manhattan. There are only so many people in the world who can afford such high-end real estate, highlighting the exclusivity of the area. “As of right” zoning in this area makes it much easier to build a super-tall building here than in say the Upper West Side or Upper East Side, where they are all but forbidden. In addition, many of these skinny buildings are only now being made possible because of technological advances in construction, allowing narrow buildings to pop up in seemingly impossible spaces. The Manhattan real estate market has had a great long-term historical track record in terms of price appreciation, resiliency, and stability. For these reasons, many owners will use these ultra-luxury apartments as vertical safety deposit boxes, keeping large chunks of their net worth out of international and domestic gyrating stock markets, as well as far away from political turmoil and economic uncertainty. While there are periodic corrections in real estate markets, such corrections are nothing like what happens with the price of gold or even in the stock market - remember 2009! Many of these ultra-luxury apartments attract wealthy foreigners looking to invest in New York City's real estate market. Expect to pay $15 million to $30 million for entry-level apartments with direct unobstructed Central Park Views in many of these trophy buildings, although certain buildings, like One57, the pioneer in the neighborhood, and Central Park Tower, the tallest residential building in the Western Hemisphere, have some some smaller units and, therefore, lower prices, making those perfect for pied-à-terre buyers. The addition of the Time Warner Center (now known as the Deutsche Bank Center) in Columbus Circle in 2005 is, perhaps, were the seeds of Billionaires Row. The two towers welcomed luxury buyers to the West Side of Manhattan, mostly for the first time. Having a Mandarin Oriental Hotel in one of the towers was a big boost to the neighborhood. Soon after, however, 15 Central Park West, also popped up along Central Park West. It became one of the most successful condo buildings in NYC, solidified the West side as a place the rich wanted to be. With great views of Central Park and luxury amenities, buyers flocked to these buildings. New skyscrapers are much more common in regions like Asia and the Middle East, emphasizing the global nature of luxury real estate. In the succeeding years, developers were in an epic race to purchase air rights from 57th St and 59th Streets from Eighth Avenue to Park Avenue to take advantage of “as of right” parcels. As long as the owners had enough air rights, they could build as tall as they wanted. Over the years there would be few handful of towers that made up what is now called Billionaire’s Row. One57 by Extell was the first super tall residential tower on 57th St between 6th and 7th Avenues. The 1,050 foot tower opened with the Park Hyatt Hotel in the base of the building. Extell did a great job with the product it delivered. Other developers took note and copied their vision for 57th St and it’s environs. At first many foreign buyers, including those from China, were drawn to these developments, but as more and more were ready for occupancy, local and US high rollers were also drawn in by the projects. To receive a more complete analysis of each, please reach out to us directly. Address: 217 West 57th Street, New York, NY The tallest residential building in the world, standing at 1,550 feet tall, Central Park Tower at the corner of Broadway between 57th and 58th Streets, boasts amazing helicopter views of Central Park and NYC. This iconic structure significantly impacts the New York City skyline, adding a new dimension to the city's architectural landscape. Adrian Smith + Gordon Gill Architecture, has a lot of experience designing supertalls– having designed the Burj Khalifa, the world’s tallest building located in Dubai. Extell tapped Rottet Studio, which has designed interiors of the St. Regis, Four Seasons and Langham branded hotels. Extell applied lessons learned by developing One57, New York’s first ultra-luxury tower on Billionaires Row to Central Park Tower. Apparently, one lesson learned was to offer all residents access to the amazing views on the upper floors of the tallest residential building in the world by way of the 100th floor grand ballroom and private bar and restaurant. The grand ballroom can entertain 126 people. There is also a landscaped terrace with a 60’ outdoor pool on the 14th floor (in addition to the indoor pool). Central Park Tower usurped 432 Park as the tallest residential building in the Western Hemisphere by 51 feet. It also is taller than 111 West 57th Street by only 128 feet. It rises 50% higher than 220 Central Park South, the new 953 foot Robert A. M. Stern tower that lies directly north. Central Park Tower apartments for sale begin at $6M, but can go all the way up to $250M. If you are looking for a full floor ultra-luxury condo in the $50M range on New York Billionaires Row, Central Park Tower has 10 of them! The Central Park Tower apartment cost really depends on which floor the apartment is on and which view the apartment has. Height and views really increase the price in NYC. Address: 111 West 57th Street, New York, NY The world’s skinniest skyscraper, 111 W 57th Street, is one of New York City’s exclusive skyscrapers, rising 1,428 feet above the old Steinway & Sons 1925 headquarters. Considerably higher than its neighbor One57, which is 1,005 feet tall, it is one of the tallest in NYC. The views from this building are stunning, as the building perfectly bisects Central Park, creating a symmetrical view of the park. The full floor and duplex concept for the tower, making the building very exclusive, with a maximum of only one unit per floor in the tower. The building will has 60 luxury condos with prices in line with many of its ultra-luxury competitors. The terra cotta and bronze façade designed by SHoP architects is quite unique and beautiful. And, one of our favorite interior designers, Studio Sofield, created gorgeous living spaces throughout. Property Markets Group and JDS were the developers of the project. 111 West 57th Street prices for an unobstructed Central Park view is in the low $20Ms. There are other more reasonably priced units without park view in the base of the building. Superior Ink (400 West 12th Street): Designed by NYC’s favorite architect, Robert A.M. Stern, Superior Ink is a full-service luxury condo building along the Hudson River. There are also a set of adjacent townhouses on West 12th Street that were designed as part of the project. This development has been a huge success since its arrival in 2009. Address: 220 Central Park South, New York, NY Set on the southern edge of Central Park South between Seventh Avenue and Broadway, 220 Central Park South is one of the most successful of all the buildings along the 57th Street corridor. The real estate development process of 220 Central Park South involved meticulous planning and design to ensure its luxury status. 220 CPS, developed by Vornado Realty Trust, has some of the best DNA out of the bunch with its permanently unobstructed views of Central Park from most units. New Yorkers love the work of the building’s architect Robert A. M. Stern, who also built other ultra luxury projects neighboring 15 Central Park West and 520 Park Avenue. Stern knows how to design for the ultra-wealthy set and has had a great track record in this market segment. While 220 Central Park South has a lot in common with its elegant neighbor, 15 Central Park West, it is a much more slender and taller version. With its limestone façade, classic uptown pre-war styling, house and tower combination, and a private car court on 58th Street. Address: 432 Park Avenue, New York, NY One of the tallest residential buildings in New York, 432 Park is 1,398 feet tall. It is located between 57th and 56th Streets and Park and Madison Avenues - perhaps the most expensive block in Manhattan. This building offers luxury real estate, attracting high-profile buyers and investors. The architect Rafael Vinoly designed the 432 Park Avenue apartments’ exteriors and Deborah Burke the interiors. Vinoly’s design is inspired by the perfect square, which he used for the floor-plate of the building, as well as sections of the building exterior, and each of the windows, which are 10-feet by 10-feet. The ceiling heights are huge, with 15-feet slab to slab.Why establish the West 57th Street area as Billionaires Row?
Why Manhattan?
Billionaires Row - How it Began
Central Park Tower
The Tallest Residential Building in the World
111 West 57 Street
The World's Skinniest Skyscraper
220 Central Park South
The Most Expensive Condo Building in NYC
432 Park Avenue
The Only Building in NYC inspired by the Perfect Square
There are sections cut out every 10 floors which helps reduce any swaying from high winds.
With such a large floor plate of 8,500 square feet, 432 Park has some of the most expensive Billionaire NYC Penthouses. On the lower floors owners can even purchase staff quarters and private office condos exclusively for sale to owners.
While there is no hotel component at 432 Park Avenue, residents have an array of first class amenities, including a private dining room and motor court. In addition, since there is no hotel component, residents won’t have to share their swimming pool or any other amenities with hotel guests. However, residents can have housekeeping, room service, and parking even though there is not hotel.
520 Park Avenue
One of the Best Addresses in NYC
Address: 520 Park Avenue, New York, NY
520 Park Avenue was developed by the Zeckendorf’s, the same team behind the uber-successful 15 Central Park West, 18 Gramercy Park and 50 United Nations Plaza. Its 31 units rise only 51-stories, making it by far the shortest of the bunch in the 57th Street corridor.
Positioned prominently in the New York Real Estate, 520 Park Avenue stands out for its exclusivity and high-end offerings.
Katherine Clarke, a journalist and author with expertise in the New York City real estate market, has highlighted the high-stakes environment of luxury real estate development in her book Billionaires Row.
520 Park is in the southern section of the Upper East Side on East 60th Street between Park and Madison Avenue. Since this is a low-rise neighborhood, apartments have great views of Central Park and the city while, at the same time, being in a traditional New York neighborhood.
The building’s design take cues from New York’s grand apartment buildings from the 1920s and 1930s, as well as modern interpretations of these bygone apartment houses, such as 15 Central Park West, 220 Central Park South and The Four Seasons Private Residences Downtown NY, which also were designed by the same architect, Robert A. M. Stern.
Each of the units is either a full-floor, duplex, and for the penthouse, triplex residence. Each will offer classic layouts in a modern setting, with distinctive entertaining spaces, formal living and dining rooms, soaring ceiling heights and the finest finishes. Duplexes and the triplex have balconies with great Central Park views. The building’s floor plate is small in comparison to some of its competitors, allowing for a 4-bedroom full floor of just 4,600 square feet, as well as a 6-bedroom duplex of over 9,200 square feet.
Given the pedigree of this building, such as its superb location, a hugely successful developer (the Zeckendorfs), and revered architect Richard A.M. Stern, there is no doubt that this building will be successful with a certain crowd. Because there are so few units, we expect this building
The West Village has always been accepting of its bohemian culture with colorful residents. The village, historically, has been the focal point of many different political and cultural movements, such as LGBTQ rights, Racial Equality (Cafe Society, the first racially integrated nightclub in the city, opened in 1936).
Because of its literary roots, the West Village is full of bookshops that sell new and used books. Take a walk down Bleecker Street, and enjoy window shopping in some of the quirkiest and cutest shops New York NY has to offer.
The gay rights movement had a critical moment in West Village at Stonewall Inn on Christopher Street in 1969. Much of that scene, however, has moved up to Chelsea and Hells Kitchen over the years.
One 57
The Building that Started Billionaires Row
Address: 157 West 57th Street, New York, NY
Billionaire’s Row likely never would have happened if it wasn’t for Extell’s foray into ultra luxury with the addition of One57. One57 was the first building in New York City to record a sale close to $100 million, marking it as a pinnacle of luxury real estate. According to Business Insider, the developers assert that the board’s lawsuit is misguided and that it perpetuates a false narrative about the building, which they argue harms unit owners and the property’s value.
Designed by French architect Christian Portzamparc, the building is 1,050 sq. ft. tall. Interiors were created by Thomas Juul-Hansen. Positioned almost smack dab in the middle of 6th and 7th Avenues, One57 has breathtaking symmetrical views of Central Park to the north.
Residences feature kitchens by Smallbone of Devizes and the residences with the best views of the park are large, between 3,000 and 6,800 square feet.
The 5-star flagship Park Hyatt NY Hotel is housed in the lower half of the building. In addition to One57 amenities, residents can have 24-hour room service, housekeeping service, dry cleaning and laundry, etc.
53 W53 (at MoMa)
Jean Nouvel's Avant-Garde Masterpiece with an Exoskeleton
Address: 53 West 53rd Street, New York, NY
53 West 53 is rising 1,050 feet tall into the New York skyline, a bit shorter than its original 1,250-foot design, but still a supertall. While not exactly on Billionaires Row, the tower is located close by one building east of 6th Avenue between 53rd and 54th Streets, will rise 72 stories and feature 145 ultra-luxury condos.
Positioned prominently in the luxury real estate market, 53 West 53 offers unparalleled living experiences in one of the most sought-after locations in New York City.
The Wall Street Journal has frequently covered real estate news, including legal disputes and market conditions surrounding luxury skyscrapers like 53 West 53 in New York City.
While the building is a bit further afield from 57 Street and Central Park than some of the others in the 57th Street corridor, we expect Jean Nouvel’s design to triumph because of his truly one-of-a-kind architecture.
French architect Jean Nouvel’s design is at the same time “out there” but also very cool, as only Jean Nouvel knows how to do it. The Pritzker Prize winning architect has long been revered as a risk taker for his creative experimentation that always results in cutting edge designs. The building tapers to a set of peaks at the tower’s apex and the building’s skin will be an exoskeleton.
Designed by Thierry Despont, the interiors are warm with kitchens by Molteni & C and baths with Italian-finished Verona limestone. Because of the exoskeleton, there are no columns to worry about. The triple glazed windows are cutting edge and minimizing noise.
Aman New York Residences
Unique Aman Experience in an Urban Sanctuary
Address: 730 Fifth Avenue, New York, NY
While not a supertall like the other Billionaires Row apartment buildings, the Aman New York Residences is located at that epicenter I spoke about earlier - along Billionaire’s Row at 57th St and Fifth Avenue. Sitting atop the gorgeous pre-war Crown Building, the Aman New York Residences features the first urban Aman Residences with only 20 ultra-exclusive luxury real estate properties.
The bottom floors house a new Aman Resorts New York Hotel with 83 rooms. The Aman boasts views of Central Park to the north and is incredibly expensive. The one-of-a-kind 5-story penthouse at the Aman New York sold for $135M.
Residences will receive the unrivaled, intuitive service for which Aman is known for. In addition, residents can use the amenities of the hotel, such as the Jazz Club and Garden Terrace.
Developed by Vladislav Doronin, the CEO and majority shareholder in Aman Resorts, who is also developing a few condo buildings we like in Miami: Una Residences and Missoni Baia. Longtime Aman collaborator, Jean-Michel Gathy of Denniston designed the interiors.
50 West 66th Street
The New Kid on the Block - Offering Features the Other Towers Don't Have
Address:: 50 West 65th Street
While not exactly on the Billionaires Row blocks, this building is 9 blocks north, along Central Park West in the Upper West Side neighborhood. Perhaps being in a residential neighborhood is one of the things that the other towers don't have, although 520 Park is on the edge of the Upper East Side neighborhood. Many of the other towers listed are in mixed commercial and residential locations, with a bent toward commercial.
Developed by Extell, the same developer as Central Park Tower, 50 W 66th St has many of the main features such as glass curtain wall, Smallbone and Devines kitchens, very high end architecture and interior design. Except it doesn't have a high floor amenity space like the 100th floor at CPT. In addition, the tower units in the building have 13 1/2' ceiling heights on the lower tower units and 14 1/2" ceiling heights in the higher tower units, these are some of the tallest ceilings of the bunch. One of the most rare features of 50 W 66th St is that each tower unit has at least one loggia with stunning views of the park - one of the most sought after features of Central Park view buyers.
How to Buy a Billionaires Row Apartment
Having lived in the Columbus Circle neighborhood since 2007, these buildings have been like our babies. It’s been fun to watch the epic race that developers were on that resulted in the ultra-luxury building boom in the luxury real estate market. One thing for sure is that they are all very nice, but there are nuances between them that are not evident without some inside knowledge of the buildings themselves and what potential competitors are coming to market in the near and short term. Billionaire’s Row development marks a new era in New York City’s real estate landscape, characterized by the transformative impact of Billionaires Row.
Reach out to us to get the inside info on all of these gems.
