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The Most Expensive Places to Live in NYC

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A Central Park West super-luxury penthouse recently sold for $80 million. A duplex on the 18th floor of the same address went for $75 million and another nearby for $60+ million. A penthouse at the Time Warner Center on the 78th floor sold for $7,831 per square foot, or a $65 million total. Previously the penthouse apartment at The Mark held the record for the most expensive apartment in New York. It had sold for $60 million. Some similar apartments sold for around $30 million as recently as two years ago.

Monthly maintenance fees at $13,000+ and taxes that run $16,000+ mean an extra $356,000+ annually to live in the apartment purchased. Many apartments in this price range include master bedroom suites with an office area, his and hers bathrooms, dressing rooms, and closets. An extra-large living room with floor to ceiling windows adds to the openness experienced inside. The separate dining room and chef’s kitchen including a pantry and complete laundry center are all additional perks for this price. Multiple bedrooms and baths are usually included as well.

Inside the Plaza Hotel lies the refurbished Astor Suite-the most expensive rental in New York. The monthly rate to stay in this exquisite space is $165,000. Any time it is available for rent there is someone ready to take on the expense. The suite contains Oxford bookcases, flat-screen TVs that hide behind fantastic art works when not in use, and iPad controls for practically everything mechanical within its walls.

One three bedroom apartment in Midtown East rents for as little as $6,300 a month-which most people don’t consider “little.” It has floor to ceiling windows which help make the 1,600 square foot space seem even larger. The kitchen has granite counters and splash-back with stainless steel appliances. It can be home to a family or house up to four roommates. The apartment has two complete marble baths and an additional half-bath. A large, windowed balcony brightens the interior and walk-in closets provide plenty of storage space. There are hook-ups for washer and dryer in the unit and it is located near a subway hub which takes the tenants anywhere in the city.

Compare the above apartment to a three bedroom unit in Greenwich Village that rents for $27,495. Located on Astor Place, this unit covers 2,248 square feet and has three bedrooms and three baths. The architecture of this loft is museum quality, having been designed by two American architects: Robert Siegel and Charles Gwathmey. It is located in downtown’s most vibrant neighborhood. The floor to ceiling windows undulate with the walls providing dramatic views of the city facing North, East and South. The master bath includes a spa-like marble, deep soaking tub and twin carved black granite sinks.

The most expensive NYC apartment which overlooks Central Park sold for $88 million in 2011. The family of a billionaire from Russia made the purchase. Ekatarina Rybolovleva, 22, will be living there while she attends college in New York. The price her family paid was 66% above the previously held record amount for a NY apartment. The apartment has a complete wrap-around terrace along with all the usual amenities expected of any unit near that price range.

New York City’s neighborhoods are very popular areas in which to live. Restaurants, places of work, theaters and other forms of entertainment are within easy walking distance or a quick cab ride for those who don’t have their own limousines. That alone makes the high-priced real estate worth it to many of those who choose to live there. Depending on their address, apartment dwellers pay high prices to-what ordinary people would call-exorbitant amounts-and will undoubtedly continue to do so into the foreseen future.

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