Southwest tip of Central Park has NYC’s priciest condos: report

The city’s priciest condos are bunched around the southwest tip of Central Park on the Upper West Side, not in the stuffy enclaves of the Upper East Side, a new report from CityRealty, a real estate information website, finds.

The luxe 15 Central Park West is the city’s most expensive, with prices at the Robert A.M. Stern-designed building at West 61st Street hitting an average of $5,847 per square foot, according to the report.

Next on the list was the Time Warner Center at 25 Columbus Circle, where the average price was $4,644 per square foot, according to the report seen by DNAinfo. The tower next door to the Time Warner Center – the Residences at the Mandarin Oriental – also made the list at No. 5, with average prices at $3,738 per square foot.

“That corner of the park is just phenomenal the way money gathers there,” CityRealty’s Pete Culliney told DNAinfo.

The report also found that prices in Gramercy Park had seen the greatest average price jumps in the last five years – indeed, condos in the area saw an average increase in price of 259 percent, from $1.1 million to $3.9 million. [DNAinfo]  – Hiten Samtani

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