Of all the condos under construction, a precious few supertalls will account for nearly half of the projected sellout amount in New York City, CityRealty data reveals, with a projected $20B going to just 12 buildings.
Developers have their fingers crossed that the buildings reach their sellout projections, given their top dollar construction prices—Vornado Realty Trust’s 220 Central Park South costs $5k/SF with a projected $3B sellout price tag, City Realty reports.
The most expensive building, CIM Group and Macklowe Properties’ 432 Park Ave, is expected to sell out at $3.3B. Third place goes to Hines’ 53 West 53rd St, the MoMA Expansion Tower, at $2.2B. [CityRealty]
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