It’s no surprise: the New York City condo developments that have had the biggest sellouts over the past two decades are the new, ultraluxury supertalls that line Billionaires’ Row.
The Real Deal analyzed the 20 condo developments with the highest developer-projected sellouts from 2005 to today. Many of these projects are still in the midst of selling sponsor units, and TRD’s analysis does not include actual sales.
Billionaires’ Row giants built in recent years, like Vornado Realty Trust’s 220 Central Park South, Macklowe Properties and CIM Group’s 432 Park Avenue and Extell Development’s 157 West 57th Street and 217 West 57th Street, set a new standard in the market when they announced multi-billion-dollar sellouts.
Vornado’s project, once dubbed the “world’s most successful condo,” comes in at No. 1 with a projected sellout of $3.3 billion. The property claims the priciest home sale in the U.S.: hedge funder Ken Griffin in 2019 dropped $238 million on a 23,000-square-foot quadplex at the property.
However, a handful of New York City condo developments from the early aughts also cracked the top 10.
Elad Properties filed an offering plan to convert part of the Plaza Hotel at 1 Central Park South into condos in 2006. Its projected sellout of $1.4 billion ranks seventh in the city.
Following the Plaza is the 420-unit Manhattan House at 200 East 66th Street in Lenox Hill. Developer O’Connor Capital Partners filed a plan in 2006 that valued the units at $1.2 billion.
Among the top 20 New York City condo developments, just two are not in Manhattan.
Risland, United Construction & Development Group, and FSA Capital’s Skyline Tower at 23-15 44th Drive in Hunters Point is 13th. That project’s projected sellout was $977 million. It’s also the largest development on the list by unit count, with 621 condos.
In Downtown Brooklyn, 11 Hoyt Street’s $791 million sellout was good for 19th in the ranking. Tishman Speyer developed the 480-unit tower, which has the second-highest number of condos.
Here is a closer look at the 20 most expensive condominium developments filed in New York City over the past two decades.
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