Vornado Realty Trust is planning the city’s most extravagant and expensive apartment at 220 Central Park South, asking a whopping $250 million. The Real Deal’s managing web editor Hiten Samtani appeared on CNBC’s “Power Lunch” Monday to discuss the pad and who the potential buyers could be. Check out the video after the jump.
“This guy is saying, ‘$5,000 a foot to build this product,'” Samtani said, referring to Steve Roth, Vornado’s CEO. “Which is unprecedented.”
The quadplex pad will run roughly 23,000 square feet, as TRD reported last month, and Samtani noted that a Qatari buyer had been in negotiations for a mega-mansion in the sky at the building.
“They typically travel in an entourage,” he said, of ultra-wealthy Qatari families. “So an apartment like this, which offers four floors of privacy and is as exclusive as it gets, it makes a lot of sense.”