Ever wonder what a Central Park view—that most coveted of coveted features, that most desirable of desirable details—actually translates to in terms of cold, hard cash?
Quite a lot, in fact. Apartments with Central Park views fetch more than twice as much as surrounding apartments, The Wall Street Journal reports. And if you just look at co-ops it’s three times as much!
Forget the waterfront. All New Yorkers care about is tree line, tree line, tree line.
The big premium buyers are willing to pay for Park is at its highest level since 2008, according to The Journal. Yet another sign of the cash-flush luxury market these days? It seems that buyers are all too happy to swoop in and pick up a pricey pad. As long as it’s on the Park!
“For being such an outgoing and outspoken culture here, we are very inward looking,” Jonathan Miller commented to The Journal, noting the difference between New York and water-loving cities.
Some brokers are hopeful that the wealthy New Yorkers will learn to love the waterfront in coming years, where the air is fresh and pure? as one sales manager notes hopefully.
Most likely, buyers on the hunt for the most luxurious of pads will simply be looking for both waterfront and park views.