Why This NYC Apartment Costs $28.5 Million

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  • Pubblicato il 20 feb 2019
  • We set out to find out why this apartment is $28.5 million and learn about the history of New York's real estate market along the way. The reality TV star and top NYC broker Ryan Serhant delves into the details of the super-rich real-estate and who the buyer could be.
    Following is a transcript of the video:
    Narrator: A couple months ago, I was scrolling through IT-clip and saw this video of an apartment on Billionaires' Row in New York City. It's on the 41st floor of this ultra-luxurious tower called On e57. Sitting right off West 57th Street with views of Central Park, it's listed at a whopping $28.5 million. It's hard to comprehend why it's so expensive and if there's even a market for it. So I reached out to the realtor, Ryan Serhant, hoping he could help me unpack the world of Billionaires' Row. You may recognize Ryan from Bravo's "Million Dollar Listing." And he invited me uptown to check out On e57 for myself. Ready, we're going there. One57 towers almost a thousand feet above West 57th Street. But before the building opened in 2014, this wasn't really a residential street. It was known for Carnegie Hall, tourists, and delis. But One57 put West 57th Street on the map, breaking records for listing prices and coining the street Billionaires' Row. The first 27 floors of One57 are reserved for the five-star Park Hyatt hotel, but the next 48 are residential. Walking in, I was actually pretty surprised by how homey it felt. Yeah, the lobby was classy, but there was this familiar and casual buzz of people just living their normal lives, and that was really nice. We took the elevator to the 41st floor and met Ryan at apartment 41D.
    Ryan Serhant: Hello. Welcome to One57.
    Narrator: Right away, it's gorgeous. 12-foot ceilings, exquisite decor, and that new building smell. But it's those views that obviously add to the price tag.
    Serhant: This unit that we're in right now, 41D, is a duplex. It's got five bedrooms, five and a half bathrooms, and it has an outdoor covered garden.
    Narrator: Apparently, that outdoor garden, or the solarium, is a rare architectural feature.
    Serhant: The building kinda curves as it goes up. It keeps stepping back, you create these rooms. So you can sit here, you can get a tan, for the 41st floor on Billionaires' Row. It's totally crazy.
    Narrator: Just off the solarium, there's a private terrace, and it's one of just two apartments in the building with an outdoor space. After the views and solarium, the duplex layout of the apartment keeps the price tag ticking up. The second floor has four bedrooms, including the master suite, with arguably better views than the floor below. The en suite master bathroom is made completely of marble, imported from Italy, of course. You've got a walk-in shower, free-standing tub, and two toilets, you know, just in case. Back downstairs, the massive eat-in kitchen had a couple hidden features.
    Serhant: Like this looks like it might be cabinetry, but it blends in. These are actually your bar stools.
    Narrator: Around every corner, there was some new design element. A fluffy chair, a perfectly sized rug, that optimized the space. It made for this relaxed, luxurious vibe. And, of course, none of that was by accident.
    Serhant: And even if the buyer has $30 million to spend, you'd be amazed at how unimaginative they can be. So, we have to show them. And everyone we've shown this apartment to would take it fully furnished, 'cause they just love it.
    Narrator: Buyers can choose to keep all of the staged furnishings, and thank goodness, the price tag includes the furniture. But what's a billion-dollar building without amenities to match? On the 31st floor, residents get a giant amenities space all to themselves. There's a billiards room, screening room, gym, and a pool, with music piped in from Carnegie Hall across the street. But the never-ending climbing wall was definitely my personal favorite. This isn't what I anticipated doing today. Since its construction, One57 has pushed up real estate prices across the neighborhood. From 57th Street to 59th Street between Park Avenue and Broadway, median sale prices rose 64.3% from 2010 to 2018.
    ------------------------------------------------------
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    Why This NYC Apartment Costs $28.5 Million

Commenti • 2 472

  • Plautus egal
    Plautus egal 2 giorni fa

    what a ripoff

  • Cwise85
    Cwise85 2 giorni fa

    $28.5M and you *still* need to "optimize space" by having cabinet chairs.

  • KRUSER
    KRUSER 2 giorni fa

    "Why this NYC Apartment Costs $28.5 Million?"
    "Because it's in NYC?" 😂

  • Bubble Wrap
    Bubble Wrap 3 giorni fa +2

    Do you guys realize if this real estate agent has a 80% commision he will make 2,240,000?!

  • Bubble Wrap
    Bubble Wrap 3 giorni fa

    Hmm, I'll take my little country house rather than dealing with those Yankees. No thank you.. I can barely stand when they come down for vacation. lol

  • Junver Aliviado
    Junver Aliviado 3 giorni fa

    If I have millions I rather buy a house with a large lot space i just feel its much safer than living in skyscrapers that is prone to earthquakes and what if the floor underneath you is burning which just makes life shorter and not be able to enjoy your money 😝

  • jesse f
    jesse f 4 giorni fa +1

    I'll take it

  • Raccoon Tower
    Raccoon Tower 4 giorni fa

    2:22 dumb thicc

  • Mohit Singh
    Mohit Singh 6 giorni fa

    Outdoor covered garden . Like WtF

  • Fatherless Freddy
    Fatherless Freddy 6 giorni fa

    for some reason my gut is telling me I dont want to live in a tower in NYC... 😑

  • paysonfox88
    paysonfox88 6 giorni fa

    And meanwhile, if Donald Trump sold his 3 floor Penthouse - it would top even this apartment. Trump's old house atop his tower -- I saw an estimate over $40 Million in a couple of different shows. Italian Marble and 24K gold set with rubies and precious stones everywhere - and 3 floors of a skyscraper to boot -

  • Cloud9Cube's
    Cloud9Cube's 7 giorni fa

    Crazy what people spend their ego on lol

  • ironkreator
    ironkreator 7 giorni fa

    almost all of these apartments in these videos are actual dogshit. this is what new money or people with inherited fortunes spend their money on.

  • The Truth
    The Truth 8 giorni fa

    Buy a 28.5 Million apartment.

    OR

    Make a change the lives of 300 families that have nothing by giving them 95K each

    The choice should be common sense,

  • bruh bruh
    bruh bruh 8 giorni fa

    She definitely watched Eric Conovers video

  • Adonis Top of Men
    Adonis Top of Men 8 giorni fa

    fantastic .......

  • snake knife
    snake knife 9 giorni fa

    Just what I want to see many many more not so good looking buildings and some of a park. So for this money I have to share a pool, gym and media room with other people in the building I do not really want to see in the first place? I would take my 28.5 mill. and buy a huge horse farm in Ocala FL., and have 27.5 million left over. In other words I would do all I could to stay out of taxing you to the hilt NY state. I say people can buy whatever they want and if they have the means great, just stop wasting it in that state.

    • Matt C
      Matt C 8 giorni fa

      Wow snake bored huh ?

  • Honey
    Honey 9 giorni fa

    NYC is a joke.

    • Matt C
      Matt C 8 giorni fa

      Lol very creative honey comb

  • noga 1
    noga 1 9 giorni fa

    4:43 a $28.5 Million face

  • Mike diz Larrance
    Mike diz Larrance 9 giorni fa

    No wifiiiiiii sheshhhhhhh

  • Mike diz Larrance
    Mike diz Larrance 9 giorni fa

    Hahahaaaaaaaahahahahaa no backward no free wifi

  • Xander X
    Xander X 9 giorni fa

    Rather buy a house.......

    • Matt C
      Matt C 8 giorni fa

      Yeah you think so

  • Sisay Isco Fekadu
    Sisay Isco Fekadu 10 giorni fa +1

    Decadence of Capitalism! Many are in a terrible state of life and few and just so few are living in such way. Equitable and proportionate wealth distribution is a must even in America.

  • Jl Ml
    Jl Ml 11 giorni fa

    I would go to York motel and check out a room for $60 with my 350MILLION DOLLARS

  • Jl Ml
    Jl Ml 11 giorni fa

    Oh yeah I like gold chains so I MIGHT spend 1 thousand bucks on a gold chain with my 350MILLION DOLLARS

  • Jl Ml
    Jl Ml 11 giorni fa

    WITH MY 350MILLION DOLLARS I would buy a large pizza

  • Jl Ml
    Jl Ml 11 giorni fa

    WITH MY 350MILLION DOLLARS I WOULD BUY A NEW PACK OF TRIDENT CHEWING GUM

  • Jl Ml
    Jl Ml 11 giorni fa

    WITH MY 350MILLION DOLLARS I WOULD GET A NEW PHONE

  • Jl Ml
    Jl Ml 11 giorni fa

    WITH MY 350MILLION DOLLARS I would buy a tent and a brand new backpack and a lighter

  • Jl Ml
    Jl Ml 11 giorni fa

    WITH MY 350MILLION DOLLARS I WOULD PROBABLY BUY A BEER MICHELOB YES I WOULD BUY A BEER

  • Jl Ml
    Jl Ml 11 giorni fa

    WITH MY 350MILLION DOLLARS I MIGHT BUY A BICYCLE BUT DEFINITELY I WOULD BUY A SKATEBOARD FIRST

  • Jl Ml
    Jl Ml 11 giorni fa

    WITH my 350MILLION DOLLARS I would buy 1 month bus pass

  • Jl Ml
    Jl Ml 11 giorni fa

    WITH 350MILLION DOLLARS I would go shopping at 99 cents store

  • Jl Ml
    Jl Ml 11 giorni fa

    WITH 350MILLION DOLLARS I would buy liquid detergent for my Landry

  • Jl Ml
    Jl Ml 11 giorni fa

    WITH 350MILLION DOLLARS I would buy SUM herb LOL

  • Jl Ml
    Jl Ml 11 giorni fa

    IT ALWAYS MAKES MISTAKES WTF

  • Jl Ml
    Jl Ml 11 giorni fa

    Let's talk about the 350MILLION DOLLARS im owed! And what would I do

  • Rhuth K
    Rhuth K 11 giorni fa

    No personal helipad, no personal gym, no personal garage, far from the nearest airport, entire NYC will see you getting shower naked, you get down and its all shitty traffic and city chaos. No thanks, even if i was a billionaire i would prefer living in a house with personal helipad and ocean view and own garage to keep my cars. probably far from city.

  • Alex V
    Alex V 11 giorni fa

    nothing and no one is worth that much money. as long as there are starving people in the country this shouldnt even be allowed. we live in a fucked up world.

  • Pirate1975
    Pirate1975 11 giorni fa

    I’d spend $500K on a huge farmhouse in the country with no neighbors and enjoy $28M in my bank account the rest of my life....

    • Matt C
      Matt C 8 giorni fa

      Hold your tongue and say I was born on a pirate ship 3 times fast

  • mike private
    mike private 11 giorni fa

    This guy reminds me of a young version of sean Connery without the accent but with the white hair

  • BJ
    BJ 12 giorni fa +2

    The truth is alot of these apartments are bought up by people who never visit never mind live in them. Sad really because I'd love to make full use of one. 😁✌️

  • Lottery Channel
    Lottery Channel 12 giorni fa +6

    Top broker: imagine how much you can SAVE from gym memberships

  • Daniel Le
    Daniel Le 12 giorni fa

    the real estate agents are scums. they are the reason the real estate market is out of control.

  • Chuck-U Farly
    Chuck-U Farly 13 giorni fa

    That realtor is right money does not by class or good taste. Good example of bad taste just lookup what the inside of any of trumps residences. I live on W 57th and this tower that is being reviewed in my opinion is the 2nd ugliest towers on W&E 57th Street. I do think the interior is very nice and the spacious. At least with the view you can't see much of the building your are in to spoil the view. The ugliest of the towers is 4321 Park Avenue. Even though the address and entryway in Park Avenue the building is really on W 57th Street and is butt ugly with claustrophobic apartments. Ceilings are very low. I've never been in it but know people who have been there and didn't like it. The tower was suppose to be the tallest building in the Western Hemisphere but they ran out of funding so it isn't even the tallest building in the city but is is one of the ugliest.

  • Oded Kain
    Oded Kain 13 giorni fa

    NYC buildings turned from masterpieces to chopsticks.

  • ZTech
    ZTech 13 giorni fa

    This is what quantitative easing looks like.

  • Yash K
    Yash K 14 giorni fa +4

    Listen guys, I was going through the comments and I see a lot of you are unhappy with this but the truth is, the more us poor people hate it, the more valuable it will be for the rich because the rich like owning things that poor people envy.
    I'm poor but we must never hate the rich. Instead we must strive to become like them and then take better life decisions to serve as a standard for other rich people.

    • Hie5ForLife YT
      Hie5ForLife YT 7 giorni fa

      +The Truth Money is a medium of exchange. How can someone who has more of it be unethical, evil. Doesn't that make you evil since you have money as well? Even tough you might not consider yourselft rich someone from poorer countries may consider you on his/her own terms. Also who is rich? How much money does it even take to be rich in the first place.

    • The Truth
      The Truth 8 giorni fa

      Nope no thanks, I'd rather be poor and know God than have everything this life., Jesus said " It is harder for a rich man to go to heaven than it is for a camel to go through the eye of a needle " Rich people never need God because they have everything. So I say enjoy your time while it lasts and this goes for all rich people, You can't be rich and " donate on your terms " and think you are being Godly. God also said " You are either Hot or Cold, If you are luke-warm, I will spit you out " A real follower has little to no money because they are doing gods work with their riches. Seek him while you can and live forever.

    • Hie5ForLife YT
      Hie5ForLife YT 12 giorni fa

      Finally someone who understands us

  • Dion Lindsay
    Dion Lindsay 14 giorni fa

    Why in the name of goodness are tours of apartments always dominated by the visual image of the commentator? The more of them I watch the weirder that seems. What are they actually trying to sell here - the person, who won't be part of the deal, or the apartment?

  • Harshul Narang
    Harshul Narang 15 giorni fa

    100 million for a bloody penthouse! DAFQ!

  • Anton io
    Anton io 15 giorni fa

    Wonder how they will demolish them in 20ish years

    • Matt C
      Matt C 8 giorni fa

      With an airplane

  • Straw Berries
    Straw Berries 15 giorni fa +3

    Made for 1 billionaires with 1 wife and 3 mistresses.

  • SuperTerry1963
    SuperTerry1963 16 giorni fa

    Silly money. Not worth that sort of money".

  • Justin Case
    Justin Case 16 giorni fa

    Wow, truly amazing! It's so great to see development and construction, it gives a real sense of progress and moving towards the future. And in years to come the overall standard of housing will improve as a result of these developments. The designers, builders and buyers of these awesome apartments are real pioneers and I just wish we would see a 10x, or even 100x, increase in construction of modern apartments in major cities so even more people can have the opportunity to live in the future. As a great thinker and visionary once said 'the future's already here, it's just not yet evenly distributed'! And give it another 15 years and they'll be autonomous flying taxi's picking people up from the rooftops of these buildings and transporting them to HyperLoop pods to whisk them across the country and have them back home again in time for tea!

  • HamQM
    HamQM 16 giorni fa

    Food, clothing, shelter, and entertainment. In the big picture, if you have those you're living as comfortably as anyone else on this planet.

  • No No
    No No 16 giorni fa +2

    I’d still be scared of a 2nd 9/11. If it doesn’t hit the building, then you’d have hell of a view.

  • Lords Spaghetti
    Lords Spaghetti 17 giorni fa

    One of these days im gonna live in that apartment

    • Matt C
      Matt C 8 giorni fa

      Lol then you wake up on your mom's couch

  • amangray films
    amangray films 17 giorni fa

    The view of New York City. Who really wants that? Maybe someone that hasn't travelled much.

  • Ruby Moon
    Ruby Moon 17 giorni fa

    i just wore my torn out socks *:''* i can feel the breath life is good

  • MaximalHardy
    MaximalHardy 17 giorni fa

    Re re investments

  • George Kofinas
    George Kofinas 17 giorni fa

    WHY? BECAUSE PEOPLE ARE STUPID!

  • Michael Douglas
    Michael Douglas 17 giorni fa

    No thanks. $2mn mansion in Houston is more than sufficient

  • GamingTV
    GamingTV 17 giorni fa

    problem is, how expensive does housing have to get before new york starts allowing buildings to be pulled down to build more housing? it's not tapped out, new york is just rigging it's housing market for the ultra rich, 70% of these buildings are well over 100 years old, all they're doing is clinging to it's tourist traps and history, does new york really want to become greece, where they'rev willing to look like a 3rd world city just to preserve it's history?

  • Cedar Martin-Kunkle
    Cedar Martin-Kunkle 17 giorni fa

    Her butts the best view I see

  • 5504berry
    5504berry 17 giorni fa

    If you are rich enough and dumb enough to purchase this, knock yourself out. That way when the revolution starts we know where to find you.

  • PandaTV Plus
    PandaTV Plus 18 giorni fa +1

    Meanwhile my apartment overlooking a slum and a rubbish heap.

  • Corydon Rose
    Corydon Rose 18 giorni fa +1

    $28,000,000 for a home, and $800,000 to bribe my daughter into college and I'm set!

  • Adrian Ghandtchi
    Adrian Ghandtchi 18 giorni fa

    What I would like to know with luxury housing is where the hell will the get all those tenants to fill them?

  • Fr Louie Goad
    Fr Louie Goad 18 giorni fa

    All the wealth in the world will not buy your way out of the fires of Hell.

  • Fr Louie Goad
    Fr Louie Goad 18 giorni fa

    The tower of Babel was the highest on earth. It came crashing down and so will this disgrace.

    • Matt C
      Matt C 8 giorni fa

      It didn't crash down God the father changed the language

    • Daniel Stevens
      Daniel Stevens 16 giorni fa

      It'll be fine, no need to worry

  • Fr Louie Goad
    Fr Louie Goad 18 giorni fa

    You could not "PAY" me to live is such a place!

  • Fr Louie Goad
    Fr Louie Goad 18 giorni fa

    VIEW? I see the Arizona Deserts for free!

    • fat fat
      fat fat 18 giorni fa

      But its not giving a view of the Arizona deserts its giving a view of central park.

  • Fr Louie Goad
    Fr Louie Goad 18 giorni fa

    28 Million? Such a foolish example of GREED!

  • Lazsalzari Romnzevroskki

    those people never watched doomsday movies, right?

  • Mario
    Mario 19 giorni fa

    Easy - for that money, I buy several acres of land. Build a standard-looking 2 story home that doesnt make me look like a millionaire. But them I bring the long guns by building THREE levels down, with kick-ass amenities.

  • Himm
    Himm 19 giorni fa

    I live in Nigeria and have a better view of a giant park and homeless people for free.

    • Matt C
      Matt C 8 giorni fa

      And spam email scams

  • In Nomine Tenebrae
    In Nomine Tenebrae 19 giorni fa

    Why would someone spend 28.5 million dollar for an apartment, wich hasn´t even a nice view from the window? It just makes no sense...
    (said the random guy that is paying just 350€ for his 2rooms + bath + kitchen + cellar. )

  • Violet Blue
    Violet Blue 19 giorni fa +2

    is 28,5 million are price for rent or for sale price?? plus... how much maintenance price per month?? lol... 🤣🤣

    • Chenzy
      Chenzy 17 giorni fa

      Obviously sale price

  • Mr. M
    Mr. M 19 giorni fa

    28.5 mil in New Jersey could pay your property tax for 2 whole days

  • RichardoLV
    RichardoLV 19 giorni fa +24

    yes hello i have airpods i am very interested

  • 7SeriesDaily
    7SeriesDaily 19 giorni fa

    That booty tho

  • Jerry Stillwell
    Jerry Stillwell 19 giorni fa

    no land no land no land.. for 30 million i can buy a 2000 acer land and never see a soul... in my day... i can have flown in by the military supplies for 30 million plus the farm... i can never leave my land and have things come to me.. why would i buy a small 4sq ft place... its greed people

  • William Schmidt
    William Schmidt 20 giorni fa +4

    Are you sure this isn't a condo? 28mil seems a bit high for a rental, that seems more like a purchase cost.
    Apartments are rented while condos are owned.

  • Nick Er
    Nick Er 20 giorni fa

    Something I would buy if I’m rich

  • Lena x
    Lena x 20 giorni fa

    the color grading sucks. had to say it. it’s so distracting for me

  • Irwan Santoso
    Irwan Santoso 20 giorni fa

    The funny part they haven't mentioned the property tax

  • smallpicture
    smallpicture 20 giorni fa

    Lol!

  • Stephen Woods
    Stephen Woods 20 giorni fa

    Another step in the solidification of the need for a revolution in inequality in western society.

  • mrmasterpeels
    mrmasterpeels 20 giorni fa

    You mean all the furniture is included with this 28.5 million dollar apartment? SOLD! *Rolls eyes*

  • Ernest Taylor
    Ernest Taylor 20 giorni fa

    i bet that realtor smashed

  • Steve Bailey
    Steve Bailey 21 giorno fa

    It made me think of the terrible tragedy of Eric Clapton's son.

  • Y
    Y 21 giorno fa

    If I had 28.5 million, I would help set up housing for families who need it most and just give it to them. Then again, that's probably why I'm not rich though.

  • Jess
    Jess 21 giorno fa

    If there's an oversupply of luxury apartments, wouldn't it be so much more economically and socially responsible to invest in affordable housing complexes?

  • jellycoding
    jellycoding 21 giorno fa

    You sound really sweet when you speak.

  • Mike
    Mike 21 giorno fa

    its stories like this that make humanity look petty and wasteful. Our era of excess will be our downfall.

  • Junior
    Junior 21 giorno fa

    Aaaaaaah nyc where the homeless dress better and have more money than the people.

  • Bach Pregil
    Bach Pregil 21 giorno fa +2

    I own a place similar but bigger than this in MINECRAFT.

  • moonlander03
    moonlander03 22 giorni fa

    idkn rich people are something else, they have soo much money they can get stupid sometimes T_T.. and no im not gelous .. gg for them . .^^.

  • theTG
    theTG 22 giorni fa

    $28.5m in the San Francisco Bay Area buys you a 3 bedroom 2 bath house in Atherton, CA.

  • Peepee 225
    Peepee 225 22 giorni fa

    She.didnt.take.off.her.shoes