A co-op with Central Park views and a separate studio apartment, for $7,250,000

Introducing Brick Underground’s luxury pick of the week, which spotlights a condo, co-op, or townhouse for sale with an asking price of at least $3,825,000, the current entry threshold for luxury apartments in Manhattan. If you’re in the market for a high-end abode, you should know that while sales have slowed considerably over the past couple of years, that trend is starting to reverse as sellers come to grips with the new market reality and adjust their prices accordingly. It's good news for your wallet—just be aware that many luxe listings won’t linger on the market indefinitely. For more information, check out Brick Underground’s tips on buying a luxury apartment in NYC.

This week we’re looking at an Upper West Side three-bedroom, two-and-a-half-bath co-op, 257 Central Park West, #8AH, with views of Central Park and the Midtown skyline and a bonus apartment: A separate studio down the hall is part of the sale.

The main apartment is set up for entertaining with in-wall speakers, Sonos, and Lutron-controlled lighting, as well as pocket doors that open up spaces (or close them off) for gatherings of different sizes.

It is asking $7,250,000. Bear in mind that the apartment last sold in January 2012, according to StreetEasy, which says that the apartment closed for $5,605,500, down from an asking price of $6,000,000. (That sale also included the studio apartment).

The apartment has a combined living and dining room and windowed kitchen with custom cabinetry and high-end appliances (Sub-Zero, Viking and Miele). A large island with seating for three has a second oven/microwave.

There’s a separate area and pantry and full-size washer/dryer.

The master bedroom suite has park views and custom closets.

The master bath features a double vanity, storage space, soaking tub, and a steam shower.

The two secondary bedrooms face west and share a renovated hall bathroom. 

Right now the apartment is configured with a den that is partially open, but it could be closed off to create a fourth bedroom.

But you might not need to, considering the bonus studio apartment has a kitchenette, full bathroom, built-in Murphy bed and its own entrance. It could be used as an office or for guests or staff.

The full-service building was build in 1906 and has a 24-hour doorman, a stroller room off the lobby, children's playroom, central laundry, bike room, cage storage, and a small private garage. 

The building sits at the 86th Street entrance to Central Park, a few blocks away from the American Museum of Natural History and the 81st Street subway station where you can catch the B and C trains.

Maintenance for this apartment is $6,143. The building allows 50 percent financing, is pet friendly and allows pieds-à-terre.