Billionaire Dell Founder Buys Most Expensive Home Ever Sold in NYC The Condo Was Sold to Michael Dell for $100M

By Beyond My Ken, from Wikimedia Commons.

One could be forgiven for growing tired of reading about how expensive New York City real estate is. The prices trend ever upward--everybody gets it. But the curiosity of even the most cynical spectator might be piqued if he or she knew the details behind the most expensive home ever sold in the city.

Last month, it was revealed that Michael Dell, founder and CEO of Dell Technologies, had purchased a $100-million condo on the accurately-named “Billionaires' Row,” an array of skyscrapers along the southern end of Central Park.  Per The New York Post: “Dell snagged the ballyhooed, 11,000-square-foot duplex penthouse at 157 W. 57th St., for $100.45 million in a deal that closed in 2014, through a limited liability company, P89-90, that shielded his identity.”

A Brief History

The building in question is known as One57, the first residential high-rise to clear 1,000 feet after many years of zoning and air rights maneuvers by Gary Barnett, the president of Extell, the building's developer. The property has had its critics, ranging from the preservationists who routinely bemoan the construction of yet another skyscraper, to Michael Kimmelman of The New York Times, who wrote of One57 in a 2013 piece:

“This one unravels as a cascade of clunky curves descending toward ribbons billowing into canopies. The conceit is falling water. The effect: a heap of volumes, not liquid but stolid, chintzily embellished, clad in acres of eye-shadow-blue glass offset by a pox of tinted panes, like age spots. It’s anybody’s guess how the building got past the drawing board.”

(The address had previously gained notoriety during its construction phase, due to the collapse – and subsequent precarious dangling of – a crane in the immediate run-up to Superstorm Sandy in 2012).

Many of the building's amenities come via its attachment to the Park Hyatt Hotel, via which owners can access an indoor pool, spa, housekeeping and dry-cleaning services, not to mention The Living Room, a restaurant and lounge where you can apparently procure a $12 hefeweizen, should you be so inclined.

Read More...

Related Articles

Crown Heights Welcomes New Luxury Condo Project

111 Montgomery Is Ready for Business

Queens' Tallest Condo Building Racks Up $223M in Sales So Far

Long Island City's Skyline Tower Launched Sales in May

Douglas Elliman Releases Q3 2019 Market Report

Brooklyn, Riverdale Dip; Queens Sets Records

NMHC Survey: April Apartment Market Weak

COVID-19 Outbreak Impacting Sales Nationwide

NYC Housing Market Heats Up

Deals Can Still Be Found as Supply & Demand Meet Pricing

Report: Declining New Condo Sales Could Mean a Bargain for Buyers

Developers Are Cutting Prices and Offering Discounts to Lure Apartment Hunters