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Ok
Pretty lame imo
Yeah for that much money it seems to need more of a ‘wow’ factor. I guess most of the money is in the view. The commission for Ryan Serhant to sell would be nice. If anything I think a foreign investor from Asia would be the most likely to buy.
I would definitely be more partial to spending $50 - $60 million for a nice townhouse in Manhattan.
For $60mm you could pretty much any townhouse you wanted. Hell, you could build yourself a pretty significantly sized building
The penthouse didn't really blow me away. The views were nice but it just didn't feel the way I expected 169 million dollars to feel.
The exterior looks like a lego
I happen to like that about 432. I think it's a cool design.
I heard the building has all kinds of issues.. flooding, people getting stuck in elevators whenever there's a storm. I also hate heights so the thought of living on the 96th floor of a building that has mad issues sketches me out.
Views are indeed crazy but for $169m I'd rather own 5+ dope houses around the world (yes I get that whoever buys this probably already has that).
Yeah, NYT did a good expose on it. For all the engineering going into these things you're still building one of the most slender structures to heights only surpassed by a few buildings in China and Dubai (and now 111 West 57th and the Central Park Tower), there are going to be sway issues lol. I really wish it did work out tho, I like this kind of project.
https://www.nytimes.com/2021/02/03/realestate/luxury-high-rise-432-park…
Can we pool Silver Bananas to buy it?
Michael Dell has a better NYC penthouse for less
It won't sell for that. If I had to guess $80m.
I mean these places have no comps so a realtor is going to throw a wild number out there to let the buyer universe know who is allowed to look at it. But then the buys haggle it down.
Didn't he get like a triplex on top of One57?
I guess this place is nice if height matters, other than that I agree - expected more for this price tag. Grew up in L.A. and have seen much nicer homes for 10M -15M $US.
It's the tallest occupiable floor in the western hemisphere, that's gotta count for something haha. It's higher than the WTC, they just get the record because of the spire. For now, 111 W 57th will probably have a higher floor and the Central Park Tower will certainly have a higher floor.
That tub is so small lol Just the thought of having to deal with ear pressure when going up to the 96th floor makes me uneasy. If I had that much money I would definitely not buy that shit. You'll eventually get bored of the view and have an existential crisis after realizing the type of homes you could have gotten for 169 mil.
Dream place would be to buy a townhouse in Greenwich Village around Washington Square Park and modernizing it.
The dream.
Can't open the windows and no balcony is a deal breaker for me. Much rather a 5th Avenue penthouse with a wrap around balcony outdoor space.
Yeah definitely - a nice terrace and outdoor space is where it’s at in NYC.
I get the feeling these kinds of condos are priced this way specifically so that a buyer can brag about how much he/she spent on their home (or, more likely, 3rd or 4th home). As in, the insane price is in and of itself being considered part of the "intrinsic" value of the asset. Whoever buys this (assuming it is at ask) can shit all over the person who "only" spent $98mm on a condo.
Yeah but Ken Griffen can shit all over the person who bought this condo because Ken paid like 200 mil for his place. It's not a game you can ever win. Which is why I refuse to play it.
OK? And there is someone out there with a more expensive or elegant place than Ken Griffin has. It's all relative. And the person buying the $196mm home is going to be extremely close to the top of that ladder, even accounting for the super limited pool of people buying 8 or 9 figure homes.
And I feel pretty safe in assuming that you are not, and likely will never, be buying a $200mm+ apartment.... so it's a little weird of you to say you "refuse to play" a game to which you weren't even invited.
I'm not digging the interior design, but the view is to die for.
House in Hamptons on the beach - $20M (Estimate)
Townhouse in UES or another nice area - $50M (High end)
That leaves me with nearly $100M to play with. I could go out and pay all cash for one class A $100M multifamily building in a strong US city. Collect rents at a 4 cap. $4M a year in income. All assets would be paid off so never have to worry about debt either. This is my sound logic, which is why I can't afford this. This will probably go to some Russian Oligarch or Asian billionaire.
serious question - post property taxes and everything else, how much would you have left?
Honestly not to familiar with NYC RE, but a 4% cap on MF is pretty much the average for a nice Class A deal. This factors in all items including property taxes.
As for a Hamptons house and townhouse in UES, it all depends on the millage rate, but I don't imagine an effective tax rate greater than .9% of the market value. So based on my estimate you're looking at a $630K in property taxes on your two houses, but are collecting $4M (after all expenses) on the multifamily. Even after factoring other items like maintenance and insurance, you're looking at a net cash flow of $3M Pre-tax. Also your tax will be negligible since you're depreciation on the MF will be close to zeroing out your income taxes.You dont need to be a billionaire to live an amazing life of luxury. Again its all wishful thinking.
As another person pointed out, anyone who is paying $170 million for a penthouse can afford that plus everything else you listed with lots to spare.
I fucking hate this building. What an eyesore to the skyline.
Might be a silly question but doesn't taking the elevator to get to the top kind of take a while? And if it doesn't take a while, assuming the elevator literally shoots your ass up there like a rocket wouldn't that make your fuckin ears pop every time you left home and got back?
... or for 170 mil is there some physics where that just doesn't happen lol
The real question of course is what happens when the elevator breaks or requires maintenance. Let’s hope they have at least a couple on the property.
i live in on the ~80th floor of my apartment. Takes about 50 seconds to ascend in an elevator. The ear popping was an issue for like 2 days after I moved in, but you don't even notice it afterwards
Can you drop the name of the building? You’re already anon so it doesn’t matter. I haven’t seen an apartment building that tall before so genuinely curious.
just checked, even though my building is ~90 floors its only 270m tall. Whereas the building in the video you linked is 426m tall while only being 85 floors
i can pm the building if u want
Trump tower Chicago has sub 1.5 mil condos above the 80th floor.
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