New York City is an amazing city – the people, the food, the diversity, the energy and of course….the real estate. 432 Park is a new, ultra high-end, luxury apartment building in the heart of Manhattan. It’s 1,396 ft tall and is the “tallest residential building in the Western Hemisphere” – the Princess Tower in Duabi is currently the tallest building (period) at 1,358 ft.
According to the New York Times, the penthouse has already sold for….$95,000,000! At 8,255 sqft, this penthouse sold for $11,508/sqft. Eleven Thousand Five Hundred Eight US Dollars Per Square Foot. Granted, this top floor penthouse is about 900 ft higher than San Diego’s highest penthouse (Electra is 475 ft tall), nothing in San Diego comes remotely close to this price. The most expensive sale in downtown San Diego’s history was for $1,952/sqft back in 2007 for a Harbor Club Penthouse (which is actually on the market now for $8,999,000). And going back 24 months, the most expensive $/sqft was only $1177/sqft at The Pinnacle Condos.
I’m not saying San Diego is New York. However, when I look at prices outside of San Diego, I can’t help but think how affordable our market is. Even compared to San Fransisco, or Los Angeles, or Seattle…we’re significantly cheaper, newer (in most cases) and we have the best weather. Take a look at the Metropolitan Club’s 4,001 sqft residence on the 22nd floor that was just listed by Pacific Sotheby’s International Realty (Stephen Clark and Scott-Finn & Associates).
Residence 2204 at the Metropolitan Club, which is the top 11 floors of the Omni Hotel (The Met, not 2204), is a 3 bedroom, 4.5 bathroom condo that has nearly 80 feet of continuous floor-to-ceiling windows. Two condos have been combined to create this unique property. Here’s a short list of some of the features Metropolitan condo #2204 has:
This is an incredible property and only about 5% of the cost of 432 Park’s $95M penthouse. If you don’t need all 4,001 sqft at The Metropolitan, here’s a list of other condos that might work for you. Whatever you’re looking for, I’m sure I can help. You can contact me, Denny Oh at 858-243-2092 or [email protected].