The Central Park Tower in Manhattan was completed earlier this year, but vacancy stands at a paltry 85 percent.

A 93rd-floor unit atop the world’s tallest residential building has sold for $28.5 million.

Located at 217 West 57th Street in Manhattan, Central Park Tower was fully completed in 2021 by Adam Smith + Gordon Architecture and is currently the second-tallest skyscraper in the U.S. and the tallest residential building in the world. Last week, buyers Cindy K. Chan and Hung P. Wong paid $10 million below the $38.5 million asking price for a four-bedroom, 4½-bathroom unit on its 93rd floor.

The entire building tops off at 1,550 feet and 136 stories.

Extell Development Company

Envisioned as a modern ultra-luxury skyscraper, Central Park Tower was built over the course of five years and includes an outdoor terrace with a pool, screening room, private elevators and a children’s playground. Collectively, the buildings along 57th Street and Central Park are known as “Billionaire’s Row” due to the sky-high real estate values and plethora of wealthy individuals who line the block.

However, amid the coronavirus pandemic and a general preference for living on lower levels, units within the building haven’t been selling fast, with only 15 percent of the 178 units in the building presently sold to owners, according to Kael Goodman’s Marketproof.

“The perspective is actually a little better in the 28th-to-40th-floor range, depending on the neighborhood,” Herbert Chou of Christie’s International Real Estate said of buyers’ changing preferences in 2019. “From a penthouse, you are looking down. You are so far up that you are detached from your surroundings.”

Email Veronika Bondarenko

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
The best event in real estate kicks off next week! Tickets are selling quickly.Register Now×
Limited time: Get 30 days of Inman Select for $5.SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription