The $250 Million Penthouse at Central Park Tower

Soaring 1,416 feet above New York City in the tallest residential tower on the planet, the penthouse at Central Park Tower lays claim to the title of being the highest residence, and having the highest terrace, in the world. This once-in-a-generation residence occupies the top three floors of the most significant building on Billionaires’ Row, spanning 17,545 square feet of interior space with a glorious 1,433 sq. ft. outdoor escape. If it sells for its offer price of $250 million, it will become the most expensive residence ever sold in the US, beating the $238 million billionaire Ken Griffin paid in January 2019 for his condo at nearby 220 Central Park South.

Extell Development admits that $250 million is an ambitious price, but argues that it is also a bargain at about $15,000 a square foot. The developer claims the figures are comparable to what buyers have paid for homes at 220 Central Park South. Extell also cites 432 Park Avenue, where a penthouse in the building was marketed for more than $20,000 a square foot but didn’t have a private outdoor space.

With four exposures and unobstructed New York City views, the eye skips over the verdant expanse of Central Park, the pulsating lights of the Midtown and Downtown skylines, and the serene waterways that girdle Manhattan. The vistas from all rooms are so vast and far-reaching one can almost see the horizon bend.

Its unrivaled pair of baronial rooms, a 1,500 sf grand salon and a nearly 2,000 sf private ballroom, are truly empyrean, featuring glass curtain walls with the entire City as a backdrop and soaring 27-ft ceilings.

Each floor is a sanctuary unto itself, with private elevator vestibules and separate entry points. The lower level sits on the 129th floor and begins with a sprawling north-south gallery culminating in a sublime spiral staircase. A true work of art, the windowed staircase serves as a prism for natural light. Also on the lower level are the grand salon, a dining room, an observatory, a library, a media room, a serving kitchen with a breakfast/family room, and a pair of guest/staff bedrooms.

On the second level sit five bedroom suites, each one a temple of luxury and respite. The park-facing primary suite boasts a sitting room, a pair of dressing rooms and en-suite bathrooms. Each of the remaining bedrooms has ample closet space and en-suite bathrooms. There is also a bonus room for gaming/recreation.

The top level was designed for hosting grand gatherings and events. A Park-facing private ballroom provides access to a magnificent terrace—both are the highest on the planet! Additionally, there are two powder rooms, a coat room, a professional-grade catering kitchen with separate service entry, a private study, and room for a gym.

For Billionaires Only

Ever wonder what the monthly cost to own a residence like this? Assuming you put down 20% and finance the remaining $200 million with a 30 year mortgage at 5.2% interest, your monthly payment would be $1,098,221. Then add in the $26,952 a month common charges and $47,686 a month property tax, and you’ll have a monthly payment of only $1,172,859.

Now, you might say that someone who can afford a $250 million penthouse would just pay cash for it, and that is entirely possible. However, mortgage interest in the United States is tax deductible, and billionaires are always on the look out for tax deductions.

I’m sure the billionaire wife will love the fact that her primary dressing room is big as the primary bedroom!

The top floor is build for entertaining and throwing parties. It features the world’s highest private ballroom and outdoor terrance, plus a catering kitchen.