The most expensive studio in New York City sold for $3.88 million

Jennifer Gould

Real estate

Give me shelter

by Jennifer Gould

How many millions of dollars would you spend to live in luxury – and in a studio apartment in New York City?

Somebody He paid a staggering $3.88 million For one person in an all cash deal. And they probably thought it was a “bargain” given the price the studio was asking It was actually $3.93 million -Does not include the additional $2,577 per month in co-pays.

In return, the buyer essentially gets a very large room with bathroom in a luxury new building on Fifth Avenue.

The location is in advanced shfu Mandarin Oriental Residences At 685 Fifth Avenue, it could be considered a dream. We hear the buyer is local and is actually a group that collects “branded residences around the world.”

What do you get for $3.88 million? The studio, which features a 167-square-foot private terrace, is located on the 15th floor of the luxury building, steps from Central Park.

The 691-square-foot room costs $5,615 per square foot, making it the most expensive studio unit sold in the city this year, says Jonathan Miller, a senior real estate appraiser.

“It’s a real studio, not a one-bedroom,” a source said.

As you might imagine, the room’s custom built-ins and upscale, space-saving design are designed to provide comfort and style — “unparalleled luxury,” according to the listing.

The residence is also pre-packaged — meaning it comes with everything from Frette linens to Acqua Di Parma and La Bottega bathroom sets, Georg Jensen home accessories, and a Dyson hairdryer. “All you have to bring is your clothes. But you don’t even have to do that,” adds a source, as there’s a partnership with Saks Fifth Avenue, which can stock your wardrobe. “It’s really a ‘come as you are’ building.”

The studio was purchased by a shell company, Hycode USA LLC, which closed the unit in September, then immediately put it back on the market as a $38,000-a-month rental “junior suite.” But – gasp! – There were no takers. Then the monthly price dropped to $30,000 in November. This month, it was reduced again to $19,000.

If anyone feels cramped in the unit, they can always explore the building, which comes with a private rooftop pool and terrace overlooking Central Park, and a residents-only clubhouse — plus a gym with a yoga studio, a spa and even a hair salon.

Michelin-starred Chef Daniel Boulud also runs the building’s own restaurant, Boulud Privé, from the 27th floor. The building contains 65 residential units. Mandarin Oriental owns and operates the brand – which means hotel perks like room service, housekeeping and turndown service – but there is no hotel element on the premises.

The listing brokers were sales manager Jade Chan, Alexander Boryskin and Keren Ringler of Douglas Elliman. The rental listing brokers are Laura Kao of Douglas Elliman, Justin Johnson, and Lindsay Silverstein.