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article imageNY penthouse sells for more than $90 million

By Owen Weldon     May 19, 2012 in World
New York - A penthouse located in midtown New York has just broken a city record. The duplex penthouse sold for more than $90 million.
The president of Extell Development Company, Gary Barnett, said the buyer purchased the 10,923 square-foot penthouse located on the 89th and 90th floors on One57. One57 is still under construction and is located at 157 West 57. The buyer did not disclose his name or where he is from.
According to the New York Times, the building offers views of Central Park and will be the tallest residential structure in New York. There were 92 apartments for sale but Barnett said approximately half of the 92 apartments were already sold since One57 opened up sales late last year.
According to the New York Daily, the sale of the penthouse follows two other huge sales: A duplex at 740 Park Avenue sold for $52.5 million and a Central Park South condo sold for $70 million.
According to the New York Post, uncertainty overseas plays a huge role in the sky-high price. Experts say this is one of the reasons foreign investors are buying real estate in New York.
The exact amount of money the buyer paid for the penthouse is not known but it does beat the $88 million Dmitry Rybolovlev, a Russian billionaire, paid for a penthouse for his daughter last winter.
There have been some potential buyers who decided not to buy property at One57 due to design flaws. One of the complaints was that there were not enough elevators inside the building, which could be a problem for people who buy property on high floors. People on high floors could end up waiting awhile for their rides to come up or down.
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