$19.75 Million Central Park Condo in World’s Skinniest Skyscraper Tops NYC Luxury Sales

The top residential sale in Manhattan last week is in the world's skinniest skyscraper, The Steinway Tower on Billionaires Row.

Located at 111 West 57th St., near Carnegie Hall, unit 38 had a listing price of $19.75 million.

The sale is pending, so it's not yet clear if it was sold for asking. However, the price was knocked down from its original $22.75 million price tag when it was a mere floor plan in 2016, according to Olshan Realty.

The unit at "111 West 57th St. has very high-end finishes and is quite appealing, but it needed a price adjustment, which happened under Nikki Field at Sotheby's," Donna Olshan, president of Olshan Realty, tells Realtor.com®.

"Sotheby's is the third brokerage firm on the project, and asking prices have been lowered at least 15% since the building started marketing in 2016. Pricing is critical to the velocity of sales."

Andrii Duzhyi of Nest Seekers International, Midtown, had the listing for the unit. Realtor.com reached out for comment.

Blending modern and historic

The building combines the historic Steinway Hall, built in 1924, with the new, modern 91-story, 60-unit building, which at its skinniest is 60 feet wide, about the average length of a bowling lane. It is the world's skinniest skyscraper.

There are no skinny apartments, however. Those are all designed for wide-space living.

The new owners of unit 38 will enjoy a New Yorker's most prized attraction: Central Park views.

With "unrivaled, perfectly centered views over Central Park," from a great room and the primary bedroom, the 4,492-square-foot condo includes two more bedrooms with en suite baths.

There's also a chef's kitchen with "crystallo white quartzite countertops and backsplash, and a full suite of Gaggenau appliances, including gas cooktop with fully vented hood, steam oven and wine fridge."

As is standard for new condos at this price, the building boasts plenty of amenities, including a private porte cochere entrance, concierge service that includes daily breakfast, and membership to Club 111 and Sports Club.

The fitness club features an 82-foot-long, two-lane swimming pool with private cabanas, a golf simulator, a children's playroom, and a paddle court.

Art lovers will appreciate the original works by Picasso, Arp, Bores, Miro, and Matisse on display around the building.

A block-long lobby connects the sleek skyscraper to the landmarked Steinway Hall, which once showcased Steinway & Sons' famous pianos.

Unit 38's new owners will have plenty of elite neighbors, including British property developer Christian Candy and his wife, Emily Crompton-Candy.

The couple recently paid about $45 million for a four-bedroom triplex in the building.

Developer JDS Development purchased the original Steinway building in 2013 and brought in preservationists John Canning & Co. to restore the unique murals in the common areas.

For the skyscraper, Shop Architects imagined the terra-cotta, bronze, and glass building with its stacked, recessed floors, and Studio Sofield designed the luxury apartments.

This is the 10th time this year a unit at 111 West 57th St. took the No. 1 or No. 2 deal in the Olshan Report.

"The luxury buyer today values large space, high ceilings, views, and very high-end finishes. They also love a suite of amenities, including a pool," explains Olshan of the building's popularity.

"The development game is like an arms race when it comes to competing for customers. The rich are still very rich and they love New York, but they have a lot of choices."

The Steinway Tower also boasts the city's most expensive public listing: a penthouse with a staggering $110 million price tag.

The quadplex takes up four floors with 11,480 square feet of interior space and over 600 square feet of outdoor terraces.

Other Big Apple luxe sales

There were 23 closings in Manhattan at $4 million or above for the week ending Sept. 28, two more than the previous week. Of those sales, 19 were condos, two were co-ops, and one a townhome, according to Olshan Realty.

The condos had an average list price of $8.35 million.

The second priciest sale of the week belonged to a five-bedroom condo at Penthouse 3 at 33 Park Row overlooking Battery Park. It had a price tag of $19.5 million.

The third went to a four-bedroom condo at East 22A at 500 West 18th St. in Chelsea with an asking price of $12 million.

While historically high prices and mortgage interest rates in the 6% range have slowed buying down in much of the country, they haven't stopped the wealthy from snapping up trophy homes in The City That Never Sleeps.

"The luxury market is stable," Olshan says. "The rich have gotten really rich in recent years."