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Thursday, May 7, 2009

The World Above Central Park

Central Park from Above, NYC
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.

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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.

13 comments:

Paul said...

Great photo of central park.
In the 70's an Oxford fellow, friend of my father strolled through central park after dark and the police thought he was rather crazy.

Hans said...

I love New York and hope to visit your city soon!

Abe Lincoln said...

What an oasis this must be amid the concrete and steel jungle that is home to so many people. This paradise is perfect for the wildlife who would be less fortunate than their cousins out in the boondocks of New York State...

Islipian said...

Beautiful shot! There's a lot more "green" in Manhattan than I think a lot of people realize.

Lily Hydrangea said...

I was waiting for this, the trees to be covered in green once again! Thanks for a great shot of the park Kitty.

Fancy for nyc said...

I worked in an apartment that had a view of the park, that was my favorite project.

Terry B said...

One of my favorite views of the park can be had from the rooftop garden of the Metropolitan Museum of Art, preferably with a drink in hand--they have a bar there. It's fun to look at the treetops and fantasize about the rich people living in those swell apartments facing the park.

valeria said...

This is breathtaking!

Ming the Merciless said...

Hmmm....were you in your $1 million Upper West Side apartment when you took this photo? :-)

LordsGirl said...

Great photos! I love your site!

Fredrik said...

Stunning! You just want to throw yourself out there.

Ted and Lori said...

Beautiful. Your site is still my favorite NYC site.

Mike said...

So many trees in that photo. I love it.