"It's a really special spot. When you start at the top and move down the gently sloped ramp, you almost feel like a marble tumbling down, looking at art as you roll by. The slight slant plays with your sense of perspective and grounding."
Earlier this week, former Howard Hughes CEO David Weinreb agreed to rent his West Chelsea penthouse for $177,500 a month, an eye-popping figure that followed a $95,000-a-month lease at a Naftali Group building on the Upper East Side in December. Data on trophy rentals is tough to pin down, but this is likely among the most expensive leases ever inked in New York City. The two hefty leases came as inventory for Manhattan's trophy rentals—which appraiser Jonathan Miller defines as the top 1 percent of the market, with rates starting at $25,000 a month—was down more than 40 percent year-over-year in January, as new leases climbed (albeit, at a more modest pace).
The largest recorded residential sale in New York City was on Billionaires' Row, where a condo at 157 West 57th Street changed hands for $26 million. The four-bedroom pad has four and a half bathrooms and spans nearly 4,500 square feet; the sale works out to roughly $5,800 per square foot. Its last asking price appears to have been $29.5 million.