The rental portion of the most expensive condominium in New York, One57, is now for sale. Extell Development Co. has put up for sale of 38 rental apartments, a block of seven floors, between floors 32 and 39, for $250 million, the Wall Street Journal reports.
The sale will lead to certain tax advantages for the developer, the Journal explains. Extell head honcho Gary Barnett says that he wants $3, 800 per square foot for the rentals, or just over $6.5 million for each apartment. As of May, apartments in the tower started renting from $13, 350 a month for a one-bedroom to $50, 366 a month for a three-bedroom, the Journal reports.
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Just last week, One57 became the most expensive condo building in the city, according to a CityRealty report, surpassing Robert A.M. Stern’s 15 Central Park West. City Realty reports that One57’s average 12-month price panned out to $6, 010 per square foot. One57 is also home to the city’s most expensive condo, which traded for $100.5 million in early 2015.
READ MORE: One57
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