The Real Deal New York

Revealed: Prices, floor plans for all Sony Building condos

Along with $150M triplex, $75M and $60M pads are in the cards

February 19, 2015 10:00AM
By E.B. Solomont and Kerry Barger

From left: 550 Madison Avenue and a floor plan for apartment 30A

From left: 550 Madison Avenue and a floor plan for apartment 30A

If a $150 million penthouse is a tad out of your budget, fret not: the Chetrit Group’s forthcoming 550 Madison Avenue condominium has tons of options for the budget-conscious billionaire.

Overall, the average asking price for the 96 residences at the former Sony headquarters is $4,791 per square foot, with a total sellout of $1.8 billion, according to an offering plan filed with the New York Attorney General and reviewed by The Real Deal. In comparison, Harry Macklowe’s 432 Park asked $6,894 per square foot on average, Extell Development’s One57 asked $6,888 per square foot, and Related Cos. and HFZ Capital Group’s One Madison asked $5,061 (Prices are as of TRD‘s most recent ranking in Feb. 2014)

UnitBeds/Baths/Half bathsSize (Square Feet)Asking pricePrice per square foot
13A3/3/13,100$11,000,000$3,548.39
14A3/3/13,072$11,750,000$3,824.87
15A3/3/13,144$12,050,000$3,832.70
16A3/3/13,072$12,150,000$3,955.08
17A3/3/13,144$12,450,000$3,959.92
18A3/3/13,072$12,550,000$4,085.29
19A3/3/13,144$12,850,000$4,087.15
20A2/2/13,156$12,950,000$4,103.30
21A3/3/13,144$13,250,000$4,214.38
22A3/3/13,072$13,350,000$4,345.70
23A5/5/15,092$22,450,000$4,408.88
24A5/5/15,029$22,950,000$4,563.53
25A5/5/15,092$23,450,000$4,605.26
26A5/5/15,029$23,950,000$4,762.38
27A5/5/15,092$24,450,000$4,801.65
28A5/6/004,993$24,950,000$4,997.00
29A4/4/14,185$22,600,000$5,400.24
30A4/4/14,119$23,100,000$5,608.16
31A4/4/14,185$23,600,000$5,639.19
32A5/6/38,278$51,500,000$6,221.31
33A8/7/411,059$75,000,000$6,781.81
13B2/3/03,235$11,500,000$3,554.87
14B2/3/03,334$12,550,000$3,764.25
15B2/3/03,334$12,700,000$3,809.24
16B2/3/03,334$12,850,000$3,854.23
17B2/3/03,334$13,000,000$3,899.22
18B2/3/03,334$13,150,000$3,944.21
19B2/2/13,334$13,300,000$3,989.20
20B2/3/03,318$13,450,000$4,053.65
21B2/3/03,334$13,600,000$4,079.18
22B2/3/03,334$13,750,000$4,124.17
23B4/4/15,365$23,825,000$4,440.82
24B4/4/15,365$24,175,000$4,506.06
25B4/4/15,365$24,525,000$4,571.30
26B4/4/05,365$24,875,000$4,636.53
27B4/4/15,365$25,225,000$4,701.77
28B4/4/15,381$26,650,000$4,952.61
29B5/7/17,342$41,500,000$5,652.41
30B5/6/17,342$42,000,000$5,720.51
31B5/7/17,342$42,500,000$5,788.61
32B5/6/48,780$51,000,000$5,808.66
34B5/6/49,178$60,000,000$6,537.37
13C4/4/44,138$14,850,000$3,588.69
14C4/4/04,726$18,000,000$3,808.72
15C4/4/14,641$18,000,000$3,878.47
16C4/4/14,726$18,500,000$3,914.52
17C4/4/14,641$18,500,000$3,986.21
18C4/4/14,726$19,000,000$4,020.31
19C4/4/14,641$19,000,000$4,093.95
20C4/4/14,623$19,500,000$4,218.04
21C4/4/14,641$19,500,000$4,201.68
22C4/4/14,726$20,000,000$4,231.91
23C2/2/13,505$14,750,000$4,208.27
24C2/2/13,515$14,900,000$4.238.98
25C2/2/13,505$15,050,000$4,293.87
26C2/2/13,515$15,200,000$4,324.32
27C2/2/13,505$15,350,000$4,379.46
28C2/2/13,371$15,000,000$4,449.72
29C4/6/15,827$31,300,000$5,371.55
30C4/6/15,827$31,800,000$5,457.35
31C4/6/15,827$32,300,000$5,543.16
33C8/8/1021,504$150,000,000$6,975.45
13D0/1/0535$2,125,000$3,971.96
14D3/3/12,648$9,850,000$3,719.79
15D3/3/12,665$10,150,000$3,808.63
16D3/3/12,648$10,250,000$3,870.85
17D3/3/12,665$10,450,000$3,921.20
18D3/3/12,648$10,550,000$3,984.14
19D3/3/12,665$10,750,000$4,033.77
20D2/2/12,694$10,950,000$4,064.59
21D3/3/12,665$11,150,000$4,183.86
22D3/3/12,648$11,250,000$4,248.49
23D3/3/13,263$13,750,000$4,213.91
24D3/3/13,265$14,050,000$4,303.22
25D3/3/13,263$14,350,000$4,397.79
26D3/3/13,265$14,650,000$4,486.98
27D3/3/13,263$14,950,000$4,581.67
28D2/2/13,416$15,750,000$4,610.66
35D8/7/28,550$57,500,000$6,725.15
13E0/1/0478$1,900,000$3,974.90
14E3/3/13,421$13,000,000$3,800.06
15E3/3/13,421$13,150,000$3,843.91
16E3/3/13,421$13,350,000$3,902.37
17E3/3/13,421$13,500,000$3,946.21
18E3/3/13,421$13,700,000$4,004.68
19E3/3/13,421$13,850,000$4,048.52
20E2/2/13,435$14,050,000$4,090.25
21E3/3/13,421$14,200,000$4,150.83
22E3/3/13,421$14,400,000$4,209.30
13F0/1/0565$2,250,000$3,982.30
13G0/1/0600$2,400,000$4,000
13H0/1/0506$1,995,000$3,942.69
13I0/1/0557$2,200,000$3,949.73
13J0/1/0493$1,945,000$3,945.23
13K*3/2/001,2344936000$4000.00
13L0/1/0485$1,890,000$3,896.91
TOTAL Residential393,3051,884,166,000$4,790.60

At 550 Madison, prices start at $11 million, or $3,550 per square foot, for a three-bedroom condo that measures 3,100 square feet. Four-bedrooms range from $14.85 million for a 4,138-square-foot pad to $32.3 million for a 5,827-square-foot duplex unit.

In 2013, Chetrit, David Bistricer’s Clipper Equity and other investors paid $1.1 billion for the property, which is located between 55th and 56th streets. Along with the condo portion of the building, the 37-story tower will have just over 240,000 square feet of commercial space, 25,787 square feet of retail space and a 10,600-square-foot museum space, according to the offering plan.

And while the 21,504-square-foot, $150 million penthouse will be — for the moment at least — the city’s priciest listing, 550 Madison will also have a 11,059-square-foot condo asking $75 million. Unit 33A will have eight bedrooms, seven bathrooms, four half-baths, a living room, dining room, kitchen, library/bar and media room.

Click to enlarge

Apartment 33A, which is listed for $75 million (Credit: E.B. Solomont/The Real Deal | Click to enlarge)

Unit 34B, measuring 9,178 square feet, will be the building’s third-priciest unit at $60 million. It will have five bedrooms, six bathrooms and four half-baths.

Apartment 34B, which is listed for $60 million (Credit: E.B. Solomont/The Real Deal | Click to enlarge)

Apartment 34B, which is listed for $60 million (Credit: E.B. Solomont/The Real Deal | Click to enlarge)

Like other super-luxury projects – including Zeckendorf Development’s 15 Central Park West – 550 Madison will have seven studio apartments, which start at a more terrestrial $1.9 million for a 478-square-foot unit.

The catch? They’re only available to buyers who purchase another unit in the building.

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