The World Above Central Park

Photo by myself from a high floor above Central Park.

The buildings angled along the right are located along Central Park South, while the buildings directly ahead are located along Fifth Avenue.

The short white building in the corner of the park, to the right, is the Plaza Hotel.

-
Some of the most expensive properties in New York are located along Central Park - notably on Central Park West and Fifth Avenue.

Generally, Upper West Side apartments go for $1,000/sf (back in 2008, at least. Not sure what it is now). That means a 1,000 sf apartment sells for $1 million dollars.

That figure has been much higher for apartments overlooking the Park. The price goes up too, the higher you go.

Apartments on Central Park West have cost as much as $2,500/sf, which means that 1,000 sf apartment costs $2.5 million. At the height of the boom, prices have been as high as $4,000/sf, which means the same 1,000 sf apartment sold for $4 million.

As recent as January, 2009, a 448 sf studio was bought for $880,000, which is $1,800/sf. That's a studio, folks, and 448 sf is not big. A few months later, the same studio was sold for $1.55 million. Granted, the studio was located in a full-service condo building (full time reception desk, olympic-sized pool, private gym), but it had a courtyard view and was originally designed as a maid's room.

Anyway, back to Central Park. The nice thing is that buildings are located across the street. The entire park is contained by a low stone wall, with openings at various points for cars and pedestrians. Central Park has an open, public feel to it.

I'm not sure why Park Avenue isn't located next to the park. Despite its name, Park Avenue is a couple blocks to the east. The real estate there is also expensive, however in my opinion, there is nothing like living above a continually changing natural landscape.

For more about the $1.55 million studio, click here.

Related posts: The View from On High, The Sky is Falling and Different Vistas.