400% ROI in 11 years? $48m 50 Central Park West New York Penthouse Apartment for Sale

 Further proof that New York Penthouses have been amongst the best performing asset classes worthy of Hedge Fund investors. The NYC penthouse apartment at 50 Central Park West was originally bought by the billionaire heir to the Stryker medical supply fortune, Jon Stryker in 2002 for $12.8m and is now on the market for $48m. A cool near 400% ROI in 11 years. Impressive given that the average New York apartment appreciated closer to 60% over that time frame.

Billionaire Jon Stryker selling Central Park West NYC Penthouse

Billionaire Jon Stryker selling Central Park West NYC Penthouse

(c) Palm Beach Daily News

 

Two adjacent apartments were combined on the top floor of the Prasada, a 1907 co-op building on Central Park West and 65th Street. The purchase was the highest price ever paid for an apartment on the Upper West Side as per a report from 2002.

The building has spectacular views of Central Park and the Upper East Side and midtown skylines as well as the glittering nighttime illumination at Tavern-on-the-Green. It is convenient to the Lincoln Center for the Performing Arts and all the restaurants and stores in that area and the cross-town bus to the East Side runs on 65th Street (although I doubt the buyer of this magnificent apartment will be taking the bus)

Even by NYC Penthouse apartment standards, this apartment is a true stunner. Architecture Digest worthy….no coincidence that it was featured in the esteemed magazine. 3500 Square feet+ of outdoor space spread out over 2 rooftop terraces and 360* views over Central Park and the UWS are the true highlights here.

 

Let’s look at the basics:

  • 15 rooms, 5 bedrooms, 6 bathrooms
  • ¬†5,600 square feet, with four exposures and has approximately 3,526 square feet of outdoor space.
  • Cooperative
  • $48,000,000
  • Maintenance/CC: $19,114
  • Tax deduction: 47%

 

Let’s take a photo tour:

All images (c) Brown Harris Stevens. Contact them for more details

The Prasada coop Building on 65th and Central Park West built in the French Empire style
The Prasada coop Building on 65th and Central Park West built in the French Empire style..darn the ugly street awnings that blight this entire city!
Looking out over Central Park from the living room with 2 fire places. The apartment has double height ceilings
Looking out over Central Park from the living room with 2 fire places. The apartment has double height ceilings

 

Some of the 45 Windows Overlooking Central Park West
Some of the 45 Windows Overlooking Central Park West

 

5600 Square feet of Living space spread over 4 bedrooms + Study and 6 bathrooms
5600 Square feet of Living space spread over 4 bedrooms + Study and 6 bathrooms

 

Eat in Kitchen with top-of-the-line stainless steel appliances, custom-cabinetry and has Western exposure, and also has views of Central Park through a sliding wall
Eat in Kitchen with top-of-the-line stainless steel appliances, custom-cabinetry and has Western exposure, and also has views of Central Park through a sliding wall. Hey! is that an original banks on the wall by the kitchen sink? We bet it is!

 

3500 Square Feet of Outdoor Space spread over 2 terraces. The smaller terrace higher up has 360* views
3500 Square Feet of Outdoor Space spread over 2 terraces. The smaller terrace higher up has 360* views

 

3500 Square Feet of Outdoor Space spread over 2 terraces. The smaller terrace higher up has 360* views
3500 Square Feet of Outdoor Space spread over 2 terraces. The smaller terrace higher up has 360* views

 

Here is the smaller terrace with 360* views
Here is the smaller terrace with 360* views

 

 

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