Central Park South Condominium Market Report for September 2011

This CPS market report is going to contain the current availabilities for 2 bedroom and larger condominium apartments for sale on Central Park South. Central Park South is located on 59th Street from 5th Avenue on the East to 8th Avenue on the West. There are a variety of reasons that make Central Park South condos some of the most desirable real estate in all of Manhattan but in my opinion the commanding views of Central Park could be the most desirable feature.

From Central Park South you see both the city views of both the Upper West Side and Upper East Side along with an unparalleled view of Central Park right in front of you.

There are not that many condominium buildings along Central Park South, just a handful, including 110 Central Park South, 100 Central Park South, 106 Central Park South, 160 Central Park South.  You also have the Plaza Residences at the corner of 5th Avenue and Central Park South.

The two bedroom and larger market ranges in price from $24,000,000 for a 5 bedroom apartment for sale at 110 Central Park South to $1,500,000 2 bedroom condominium for sale at 160 Central Park South.  Other than size the most important feature of the apartment that will determine price is going to be view.  Even though you buy a condominium in a building located right on Central Park South does not mean that you will have a view of Central Park from your apartment.  The price difference for the same size apartment in the same building with and without Central Park views can be quite dramatic.  There is only so much frontage in any building for Central Park views and ultimately some apartments will not have the Central Park exposure.  Even the apartments with Central Park views will be configured in a way that typically the living room and dining room’s will have the Central Park Views and the bedrooms will be facing the back of the building.  There are some apartments that will have Master Bedrooms facing the Park and those apartments will be quite rare and in a higher price point.

Another important characteristic of living in a Central Park South condominium is that the views from the back of the building facing South will typically not be an open city skyline view unless you are on a higher floor, possibly 15 or higher(different for every building).  So the bedroom views could be of the back of another building.

The two (2) bedroom market for a Central Park South condominium for sale ranges in price from $9,000,000 – $2,000,000. But expect the average price range to be in the $3,000,000-$4,000,000 range if you want a Central Park view.  Right now there are approximately One Dozen, Two (2) bedroom apartments for sale on Central Park South.

The three (3) bedroom market for a Central Park South Condominium for sale ranges in price from $5,000,000 – $9,700,000. There are six, Three (3) bedroom condos for sale right now on Central Park South.  Typically the larger the apartment the more likelihood it faces Central Park, but not 100% of the time.

The four (4) to five (5) bedroom market for a Central Park South Condominium for sale ranges in price of $8,000,000- $20,000,000. This size of apartment can range in price very dramatically as you start to look at Penthouse apartments, duplexes,  or combination apartments with sizes that can be 3,000-5,000 sq ft.  If you are looking for an apartment this size, it’s best to have the specific characteristics you are looking for ready so we can discuss what is currently on the market, or available in other notable buildings in the area.

Overall Central Park South condominiums for sale is going to offer some of the best Central Park views, access to shopping and restaurants and the services and amenities of a 5 star hotel.  If you are looking to purchase, rent or sell your Central Park South apartment contact me today at (917) 837-8869 and we can discuss privately what it is that you are looking for.  Your specific criteria will be discussed and we can talk about your apartment options for your very own Central Park South Condominium residence.

Once again, to call me at (917) 837-8869 or email us.

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