In the ongoing real estate race to the be the best, most luxurious and most expensive, there’s a new candidate: a $130 million apartment in Manhattan.
The 62,000-square-foot apartment just hit the market and has replaced a $125 million penthouse as the most expensive listing in New York. The Residence at River House is also the new No. 2 on the most expensive homes list, trailing just behind the $140 million estate in Greenwich, CT.
River House was constructed in 1931 by American architect William Bottomley, and when it opened was one of the premier addresses in the city. Overlooking the East River, the $130 million home (the largest in the Big Apple) sprawls across 5 levels and features 20-foot ceilings, enormous view-filled windows and “light-filled spaces.”
Interestingly enough, however, is that the home is largely empty — an opportunity to create “what will truly be one of the grandest urban residences in the world,” the listing states.
A design proposed by Tony Ingrao incorporates an IMAX movie theater, wine cellar, 62-foot-long pool with full spa, as well as an oversized master suite.
While the $130 million price tag is eye-opening for a home anywhere in the country, it’s even quite considerable for Manhattan. While a $125 million penthouse is on the market, as well as a home listed at $115 million andanother at $95 million, the median list price in Turtle Bay, where this home is located, is currently $1.4 million.
A home this pricey means an equally pricey mortgage payment. Using Zillow’smortgage calculator, it’s worked out to be $501,320 per month, assuming a 20 percent down payment and 30-year mortgage. That’s more than three times the median U.S. home value.
Of course not all homes in New York are not priced like this: see other homes for sale in Manhattan.
The listing is held by John Burger of Brown Harris Stevens.
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