Trophy apartment set to list for US$250 million, as New York developers target untapped nine-figure market

Billionaires’ Row.

That’s what New York real estate experts have dubbed a lineup of a half-dozen new superluxury skyscrapers overlooking Central Park that are home to some of the world’s most expensive apartments.

One penthouse on the 89th and 90th floors of a skyscraper near Carnegie Hall that went for more than US$100 million seems almost a bargain compared to what will appear next year in a high-rise being built on Central Park South: a 23,000-square-foot, four-story apartment offered at a US$250 million. That price would likely make it the most expensive home ever sold in the US and one of the most expensive in the world.

That jaw-dropping price was contained in documents the developer filed with the state attorney general’s office this month. Floor plans show 16 bedrooms, 17 bathrooms, five balconies and a massive terrace.

The multi-million dollar question is: Who can afford to buy these places?

“These are the trophy buildings of our era, and the foreign buyer clearly fuels this very, very high-end condominium tower market,” says John Burger, a broker for such properties with the Brown Harris Stevens real estate firm.