Welcome to Brick Underground’s luxury pick of the week, a feature spotlighting a condo, co-op, or townhouse for sale with an asking price of at least $3,000,000, 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.
Billionaires' Row—The street with the most expensive properties in the world, is home to brand new luxury condo towers like One57, 432 Park Ave., 111 West 57th St., and Central Park Tower.
Amid these new developments is 171 West 57th St., a prewar condo building called the Briarcliffe, which went up in 1922. (Prewar condo building are somewhat unusual—most prewar buildings constructed before the 1940s were converted to co-ops or are rentals.)
This three bedroom, three bath at the Briarcliffe, #6B, is on the market for $3,650,000, reflecting a price cut nine days ago of $100,000, according to StreetEasy. It’s over 2,744 square feet, and has monthly taxes of $2,790 and common charges of $3,059.
The apartment has the distinct, original details that you would typically find in a prewar—with moldings and oak floors still intact, according to the listing. Keep in mind that nearly all the listing photos are virtually staged, so you may need to do some updating here, especially in the kitchen and baths.
Although condos are more expensive than co-ops, a prewar condo is going to run you less than a brand new condo—especially one on Billionaire’s Row, however, you may need to factor in the cost of a renovation. This unit is the only active sale in the building. A three bedroom, three bath that was fully renovated sold for $4,300,000 in September.
The apartment has a foyer and a 47-foot living room.
The windowed kitchen has its own service entrance.
There are several walk-in closets, and one is large enough for a home office. Other features include central AC and a washer dryer. Pets are welcome.
The white-glove building has a full-time doorman and concierge. Carnegie Hall is across the street and Central Park is two blocks away. It’s also close to restaurants, art galleries, and shopping on Fifth Avenue.
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