NEW YORK - It’s no secret that property in New York City is expensive.
But the completion of the city's tallest residential building will literally take things to a new level.
And people are willing to shell out millions to get a piece of it.
So what makes it so special?
Soaring over 1,000 feet above the streets of New York is 157 W. 57th street.
When finished in early 2014, it will be the tallest residential building in New York City, and one of the most expensive places to live.
It will have 92 luxury apartments, with a price tag of between $6,000 and $8,000 – per square foot.
The two duplex penthouse units are already in contract for between $90 and $100 million, and they are not even finished yet.
"Central Park, direct long view, is really the money shot,” says Extell Development President Gary Barnett. “And none of the other buildings really have this kind of long view of Central Park.”
The views are impressive but, it still begs the question: Who are the buyers?
"We really have buyers from everywhere all over the world,” Barnett said. “We were a little surprised to have, I'd say, between 40-50% of our buyers are actually American. We have a lot of buyers from China, we have some from Russia, we have a European buyer. Really from all over the world."
One chinese mother bought an apartment for her 2-year-old daughter.
"I think she's making a great investment and she obviously loves her daughter,” Barnett said.
It's not just the views the building is known for.
During Superstorm Sandy, the building garnered attention when the rooftop crane snapped due to high winds, leaving it dangling 1,000 feet above city streets.
But that didn't put off buyers.
One model apartment shows off the amenities a cool $17 million will buy for a 3,000 square-foot unit. They include Italian marble walls and heated floors in the bathrooms, dual stoves and ovens in the kitchen, and then the priceless vista of the Manhattan skyline.
With sales expected to top $2 billion and already 70% of the units sold, this is what you call a luxury bedroom suite.
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