Despite a slowing economy, a record $40 million is about to be plunked down for a luxury condo.
The whopping sum is expected to be paid for an 8,500-square-foot pad located in the AOL Time Warner Center, which is at least two years away from completion, according to sources familiar with the deal.
The buyer of the lavish lair on the top floor in the south spire of the twin-towered complex at Columbus Circle is said to be Stephen Ross, CEO of the building’s developer, The Related Companies.
Ross at first denied he was the interested party, then conceded, “Have I thought about it? Yeah.”
“But I haven’t made a decision,” he said. “Someone could buy it while I’m thinking about it. Right now we’re just selling apartments.”
The figure, should it hold up until the closing, would eclipse the latest record of a reported $39 million paid by Millennium Partners founder Chris Jeffries at 50 Central Park South. India-based communications mogul Cem Uzan paid $38 million for a flat at the new Trump World Tower near the United Nations building.
Louise Sunshine, whose Sunshine Group has the AOL Time Warner Center’s listing, told The Post the asking price includes little more than bare walls – and finished places will cost millions more.
While construction of the monstrous complex on Columbus Circle has just begun, big ticket sales of their luxury condos are apparently surging ahead.
“I’ve had almost $100 million in contracts,” said Douglas Elliman executive vice president Dolly Lenz, one of the city’s top brokers.
The Post has reported that there are 10 apartments going for a combined total topping $300 million, just less than $5,000 per square foot. The rest of the units are smaller and more reasonably priced.
“It’s not appropriate for us to comment,” said Donald Trump of the apparent trumping of the price paid at his Trump World Tower. “We got $38 million for Trump World Tower and that’s confirmed.”
Uzan’s apartment in Trump’s building, it should be noted, is 17,000 square feet – twice the size of its AOL Time Warner counterpart.
While AOL stock continues its slide, one broker says the buildings’ largest condos are being snapped-up by its executives. Brokers say CEO Steve Case is interested in the 8,600-square-foot 80th floor penthouse in the north tower, which is not yet on the market.
Sales of condos in the building’s south tower have been approved by the state attorney general, while residences in the like-sized north tower have yet to be given the green light.
The highest asking price on the market now is $62 million for Johnson & Johnson heiress Libet Johnson’s 20,000-square-foot palace in Trump International Hotel & Tower – across the street from the AOL Time Warner Center.
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LUXURY LIVING
Chris Jeffries – 50 Central Park South – $39 million
Cem Uzan – Trump World Tower – $38 million
Stephen Schwarzman -740 Park Ave. – $37.5 million
Sidney Kimmel – 50 Central Park South – $29 million
Charles Brandes – 515 Park Ave. – $22 million
Charles Bronfman – 838 Fifth Ave. – $18 million