For those who want location and luxury in New York City, Concierge Auctions is offering a once-in-a-lifetime opportunity to purchase prime real estate at a steep discount. The company is auctioning off a three-story penthouse on Billionaire’s Row, and the property is full of potential.
The penthouse is located midway along Central Park South, which is so close that the property’s outdoor space almost feels like part of the park itself. From the balconies and porches, expansive views of Central Park, the Midtown skyline, and the North Manhattan skyline stretch out for remarkable views. Because of the penthouse’s location directly across from the park and its height, these are views that will never be encumbered by nearby construction.
Of course, the location is also prime for both work and play. Wall Street, Broadway, and all of New York’s major attractions are only a short way away.
The building that this penthouse is in is the 1930’s Hampshire House, which is one of the most recognized white-glove buildings along Billionaire’s Row. Recognized both for its architecture and its impeccable service, the building is already home to some of the world’s most notable people. The penthouse itself is on the top three floors, floors 37, 38, and 39.
Years of planning have already gone into the design of the penthouse, and no expense has been spared thus far. The penthouse isn’t finished yet, however. It remains a project in-process.
For buyers who want a streamlined process, the penthouse is ready for turn-key construction. All necessary permits have already been procured, and a full interior design has been completed by SPAN Architecture. Contracts are in hand for SilverLining to complete the full build-out at a guaranteed price.
The current plans call for a five-bedroom penthouse that has five full baths and one half-bath.
Should the winning bidder want a customized design, they’re certainly free to adjust the plans that are in place or create new plans from scratch. While the permits, plans, and contracts in place are all guaranteed, the auction doesn’t come with any obligation to fulfill them.
From a purely financial perspective, the New York penthouse may also make a great investment opportunity. The property has been listed at $40 million but will go to the highest bidder in the auction. Its estimated value is $95 million once the current plans are built out.
The penthouse is 9,650 square feet in total, which includes 1,125 square feet of outdoor space that looks out at the park and skylines. Concierge Auctions will auction the property off to the highest bidder through the company’s online platform, with a $19.5 million reserve on the auction.