The Real Deal New York

Sizing up NYC’s supertalls: Onward and upward

NYC’s sky-soaring resi towers are one-upping each other at an unprecedented pace, but can it continue?
By Rich Bockmann | October 05, 2015 10:00AM

From the October issue: By today’s standards, Harry Macklowe’s Metropolitan Tower on West 57th Street seems quaint. The early 1980s-era building stands 716 feet tall; its resale condos trade at prices around $1,500 to $2,000 per square foot. But when the spire topped out there in 1982, it set a record as the tallest residential tower in the city.

Today, Macklowe still owns a piece of the city’s tallest apartment building, but it’s at 432 Park Avenue, and it stands almost twice as tall. In addition, the most expensive penthouse there is under contract for $95 million — or roughly $11,500 per square foot. [more]