An inside look at Manhattan’s Billionaires’ Row | Singapore Informer

These sky-high trophy homes overlooking Central Park set new marks for both luxury and price

Along Manhattan’s 57th Street, stretching from Columbus Circle on the west side to Park Avenue on the east, you’ll soon find more than a half-dozen glittering, ultra-exclusive condominium towers that will offer unparalleled views of Central Park — and virtually the entire city. Welcome to Manhattan’s Billionaires’ Row, the current trophy real estate of the 1%.

The megaprojects, with some penthouse floor plans such as those at 432 Park Ave. expanding to more than 8,200 square feet, are expected to list on average for more than $14.5 million (or $4,375 a square foot). Some even have living rooms bigger than most condominium units in Manhattan (the average size of a condo unit in Manhattan being 1,100 square feet.)

The sky-high prices on Billionaires’ Row will also help push the average price for a unit at new developments in Manhattan to $7 million (or $2,787 a square foot) by 2017, according to Gabby Warshawer, head of research for CityRealty, a New York real-estate research firm. Manhattan condo units on average were just $1 million as recently as 2005, says Warshawer.

Aside from the luxuriously appointed apartments and the central location, there’s something else that’s appealing about the apartments: As Noble Black, a real-estate agent who has marketed condominium units in One57, points out, unlike many city co-ops — whose boards are famously picky and have turned down such notables as pop singer Madonna and former President Richard Nixon as potential residents — buyers on…

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