The Real Deal New York

Penciling out the penthouses

Soaring prices for luxury apartments bulk up profit margins for developers

April 03, 2015 11:00AM
By E.B. Solomont


(Credit: Noah McDonough)

From the April issue: Years before anyone called 57th Street “Billionaire’s Row,” developer Gary Barnett was gunning for a sales record at his Christian de Portzamparc-designed One57 in Midtown. In December, he got his wish, when his top penthouse sold for $100.5 million, setting a record for the most expensive apartment ever sold in Manhattan. [more]