• Substack

How to Buy An Apartment at 220 Central Park South Using Streeteasy

You can buy anything online, like a $33.8M 3 bed, 3.5 bath that spans 3,043 square feet on Streeteasy. Soon you’ll be able to do it with 1-click. Until then, here is your guide on how to purchase in 220 Central Park South based on its price per square foot.

220 Central Park South Building Facts

220 Central Park South stands as a testament to architectural brilliance and unparalleled luxury. Designed by renowned architects Robert A.M. Stern and Thierry W. Despont, this iconic address in New York City reflects their vision of creating a timeless masterpiece. The building boasts a heritage that combines classic elegance with contemporary design, offering residents an exceptional living experience. Situated in the heart of Manhattan, this coveted address provides a unique blend of sophistication, exclusivity, and breathtaking views of Central Park.

Why Choose 220 Central Park South

apartment-buy-central-park-south

Living in 220 Central Park South offers an extraordinary lifestyle that is unrivaled. Here are some reasons why this building stands out as an ideal choice for millionaires and billionaires:

  • Unparalleled Proximity: Situated directly on Central Park South, residents have immediate access to the green oasis of Central Park, offering a tranquil retreat amidst the bustling city.
  • Luxurious Residences: The building features meticulously designed apartments with exquisite finishes, spacious layouts, and panoramic views of Central Park or the iconic city skyline.
  • World-Class Amenities: 220 Central Park South offers an array of exclusive amenities, including a state-of-the-art fitness center, spa, private dining spaces, wine cellars, and concierge services, catering to the discerning tastes of its residents.
  • Privacy and Security: The building provides the utmost privacy and security, ensuring residents can enjoy a serene and safe environment.
  • High-End Retail and Dining: The proximity to renowned shopping destinations and fine dining establishments further enhances the lifestyle of residents.

Living Life – King Size

rich-looking-guy-with-glasses

 

Living in a luxury residence like 220 Central Park South goes beyond the physical aspects of the building. It encompasses the psychology of living in a space that exudes opulence and grandeur. A luxury residence not only elevates one’s status but also shapes their mindset and character. It serves as a catalyst for attracting better opportunities and connections. Moreover, the millionaire lifestyle in New York City offers unparalleled access to cultural experiences, networking events, and a vibrant social scene, making it a hub for like-minded individuals seeking success and inspiration.

Amenities at 220 Central Park South

220-central-park-sunset-view

 

Amenities/Features Description Source
State-of-the-art Fitness Center Equipped with the latest fitness equipment and dedicated spaces for personal training and wellness activities. 220cps.com
Private Dining Spaces Elegantly designed private dining rooms for hosting intimate gatherings and special occasions. 220cps.com
Spa and Wellness Facilities Relax and rejuvenate at the luxurious spa offering a range of treatments and services. 220cps.com
Wine Cellars Temperature-controlled wine cellars for the storage and display of an extensive wine collection. 220cps.com
Concierge Services Round-the-clock personalized assistance to cater to residents’ needs, including reservations, transportation, and more. 220cps.com

The Process to Buy an Apartment at 220 Central Park South

real-estate-agent-nyc

Unit Price Price per square foot Rooms Beds Baths Half Baths Square Feet Link to Unit
5A $32,000,000 $7,034 6 4 4.5 1 4,553 Link
45B $19,950,000 $5,523 5.5 3 3.5 1 3,612 Link
63C $23,700,000 $6,889 5.5 3 3.5 1 3,441 Link
65B $17,995,000 $5,463 5 3 3.5 1 3,294 Link
68A $25,650,000 $6,681 7 4 4.5 1 3,839 Link

Purchasing an apartment at 220 Central Park South involves the following steps:

  1. Determine Eligibility: Check any eligibility criteria set by the developer or building management for prospective buyers.
  2. Engage a Luxury Real Estate Agent: Work with a reputable luxury real estate agent who specializes in properties at 220 Central Park South. They will guide you through the buying process and help you find the perfect apartment that meets your requirements and preferences.
  3. Financing Options: Explore financing options to determine the most suitable approach for your purchase. Consult with a trusted financial advisor or mortgage broker, such as JPMorgan Private Bank or Wells Fargo Private Mortgage Banking, who can provide personalized advice and assist you in securing the necessary funds.
  4. Property Due Diligence: Conduct thorough due diligence on the property to ensure its value and condition. Hire professionals like Corcoran Sunshine Marketing Group to gather detailed information about the building, including its history, construction quality, and amenities.
  5. Negotiation: Engage in negotiations with the seller or their representative to secure the best possible terms and price for the apartment. Consider working with expert negotiators such as Douglas Elliman or Compass, who have a strong track record in luxury real estate transactions.
  6. Legal Assistance: Retain the services of a skilled real estate attorney, such as Sullivan & Cromwell LLP or Fried, Frank, Harris, Shriver & Jacobson LLP, to handle the legal aspects of the purchase. They will review contracts, assist in title searches, and ensure a smooth and legally sound transaction.
  7. Property Inspections and Appraisals: Arrange for professional property inspections to assess the condition of the apartment, including its systems and structural integrity. Additionally, an independent appraisal will be conducted to determine the fair market value of the property.
  8. Closing the Deal: Once all terms have been negotiated and agreed upon, proceed with the closing process. Work closely with your attorney, mortgage broker, and real estate agent to complete the necessary paperwork, transfer funds, and finalize the purchase.

Smartest Way to Buy

smart-rich-guy-nyc-buy-apartment

 

For prospective buyers who are already millionaires, the smartest way to purchase an apartment at 220 Central Park South is by leveraging their financial position. By putting a substantial amount as a down payment, typically around 50% or more, buyers can secure favorable financing terms and potentially avoid mortgage interest altogether. This approach allows for greater financial flexibility and reduced debt burden.

Service Professionals for Buying Process

buy-apartment-central-park

Service Name Recommended Professional/Organization Contact Information
Luxury Real Estate Agent Dolly Lenz Real Estate, Compass Website: dollylenz.com
Financial Advisor JPMorgan Private Bank, Wells Fargo Private Mortgage Banking Websites: jpmorgan.com, wellsfargo.com
Real Estate Attorney Sullivan & Cromwell LLP, Fried, Frank, Harris, Shriver & Jacobson LLP Websites: sullcrom.com, friedfrank.com
Property Due Diligence Corcoran Sunshine Marketing Group Website: corcoran.com
Negotiation Expert Douglas Elliman, Compass Websites: elliman.com, compass.com

Conclusion

real-estate-agent-buy-apartment

Investing in an apartment at 220 Central Park South grants you exclusive access to an extraordinary lifestyle. With its impeccable design, exceptional amenities, and proximity to Central Park, this address represents the epitome of luxury living. By following the step-by-step buying process and enlisting the expertise of trusted professionals, you can make your dream of owning an apartment in this iconic building a reality. Embrace the upgrades that this prestigious address offers and unlock a new level of luxury and status in the heart of New York City.

Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities. Lifetailored has partnered with Creditcards.com for our coverage of credit card products. Lifetailored and Creditcards.com may receive a commission from card issuers Additional Disclosure: This site has affiliate links. We may be compensated when users make a purchase or register to a third party website. For more details read our privacy policy.

More in NYC