Why This NYC Apartment Costs $28.5 Million

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  • Published on Feb 20, 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 TheXvid 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

Comments • 2 718

  • Spare Change?
    Spare Change? 2 hours ago +1

    once an earthquake happens and the building collapses what’s next 😂

  • ɐ ɹ ʇ ǝ d
    ɐ ɹ ʇ ǝ d 3 hours ago

    You could get a good nice big luxury house for a third of that apartment 's price which is 9 million dollars
    Edit: or even a fourth which is 7 million dollars for your family and whole relatives to live in and still be comfortable. or a fifth which is like 5.5 million dollars AND STILL HAVE A BIG NICE LUXURY HOUSE or a sixth which is like 4.5 million dollars and still have a nice big luxury house yea yea yea or a seventh which is 4 million dollars and yea so on so on to like a twelfth and still get a nice big house which is 2.5 million dollars AND THAT STILL IS A LOT TO BUY A DECENT HOUSE

  • flanker
    flanker 3 hours ago

    30 mil to see some other dudes flat and be seen by the same dude from his flat.... You can get a proper castle built for that money. With moats and shit.

  • Shivam khare
    Shivam khare 5 hours ago

    probably for the buyers of the Apple stand...

  • Varun Aggarwal
    Varun Aggarwal 6 hours ago

    one57 would completely alter the skyline (point to it so people know where it is amongst the jungle of concrete)

  • miamiwax
    miamiwax 6 hours ago

    View ain't that great. Cant see the whole park.

  • Tom Valencia
    Tom Valencia 8 hours ago

    For that money you could build 150 decent houses for poor or homeless people.

  • Lavendar Flower
    Lavendar Flower 15 hours ago

    Spending $28.5 million for an apartment while there are people sleeping on the floor. Yeah what a great world.

  • Faisal Fz
    Faisal Fz 15 hours ago

    IM.F.MAN.HOT
    HY.COL.SEX.TOR.
    FALIT.NY.HY.200019.

  • Abigail Delaney
    Abigail Delaney 21 hour ago

    That ain’t an apartment that’s a whole ass house wedged between other houses lol.

  • Sunny Ranadive
    Sunny Ranadive Day ago

    I don't know

  • LEGO TUBE
    LEGO TUBE Day ago

    You get pull out secret chairs! 😂😂
    I wouldnt pay 1 mil for that crap

  • Rohan s
    Rohan s Day ago

    Why the video is blue

  • Jose Lico Matozo

    Joselico gracias Dois 🙏🇺🇸🛠🔥⭐️🦅Josematozo 415@gmailcom 🇺🇸🛠🔥⭐️Joselico 💪🏻

  • TheKidJswizzY
    TheKidJswizzY Day ago +1

    Hi can I borrow for a weekend thanks

  • Benjat Isufi
    Benjat Isufi 2 days ago +1

    I could buy this after couple milion years. Thnx.

  • S AvliS
    S AvliS 2 days ago

    I can't! Her pants are ugly!

  • Elfed Owen
    Elfed Owen 2 days ago

    Wow absolute bargain price.... apartment in London last year sold for £160 million

  • Gavin Yates
    Gavin Yates 2 days ago

    Homeless people really love the fact that someone can afford 28.5 million. But they work with their hands and can't get a raise to make just barely over the minimum wage. Sick billionaire greed.

  • Stephen Murphy
    Stephen Murphy 2 days ago +1

    Who would spend 30$ million on a apartment? Who want's to live 40 stories above ground?
    The insanity of big city life....

  • Antonio Mariscal
    Antonio Mariscal 2 days ago

    But normal people have to live in microapartaments because there isnt space for all of us...

  • gipi23
    gipi23 2 days ago

    are willing to spend a 100m dollars for LESS bedrooms ;-)

  • ECK
    ECK 2 days ago +3

    I wonder how many Tide pods I’ll have to sell before buying this apartment.

  • lothean
    lothean 2 days ago

    And people complaining about apartment prices in California.

  • Cristinact
    Cristinact 2 days ago +1

    He chose some of his best clothes for the interview. She didn't.

  • Sweet Heart
    Sweet Heart 2 days ago

    This video was super boring.

  • Abdul Shohid
    Abdul Shohid 2 days ago

    I would pay 28 dollers a night

  • Abdul Shohid
    Abdul Shohid 2 days ago

    Nice view

  • D&D Operations
    D&D Operations 3 days ago

    Only a rich fool would buy that.

  • I talk a lot
    I talk a lot 3 days ago

    Lol w that kinda price you can only get a regular two bedroom studio home in Beijing

  • Andre Newcomb
    Andre Newcomb 4 days ago

    If the entrance is on 41st floor . . . does that put the bedrooms on 42nd Street with Snow White?

  • Lesch Nyan
    Lesch Nyan 4 days ago

    Why hasn’t this apartment sold yet so many years after this building was finished? Why are 40% of developer units on “Billionaire’s Row” still unsold?

  • Rene Hernandez
    Rene Hernandez 4 days ago

    Ryan is high as a kite to sell for that price. If I’m a billionaire I’m wouldn’t be that stupid to buy for that price.

  • Rene Hernandez
    Rene Hernandez 4 days ago

    I want to be a realtor like him. He get 5-6 % for just showing the apartment. Wow. Really.how do you account for that idk but whatever.

  • Ameir Ateif
    Ameir Ateif 4 days ago

    You forgot the Stark tower

  • benni hartmann
    benni hartmann 4 days ago

    Nice, but the price?

  • Deborah Allen
    Deborah Allen 4 days ago

    People living their normal lives? To me, there is nothing that's normal here! I don't see any deer, wild turkeys or chippies, that's normal for me

  • Lil Snoop
    Lil Snoop 4 days ago

    In my country i could buy 28 million a state of full houses

  • TheSushiraw
    TheSushiraw 4 days ago +5

    *HALLELUJAH, I don't need such home to be happy, or feel complete...*

  • Orges_X
    Orges_X 5 days ago

    you can buy an island and build the villa on it for 28.5

  • Despair
    Despair 5 days ago

    A lot of people make $50+ millions a year (dozens of athletes, actors business men, musicians) . It's honestly not that much. There's probably 50 thousand people on the planet that could easily afford that.

  • Lee Francis
    Lee Francis 5 days ago

    Is it just me or is this apartment and building really ugly?

  • Lucid Dreamer
    Lucid Dreamer 5 days ago

    It's so "compelling" how Ryan helped "unpack" the world of Billionaire's Row, otherwise it would've taken an eternity to "process" the implications! Always "embrace" your "authentic self" and "walk in your truth!"

  • Heewon S
    Heewon S 5 days ago

    The entire building or one unit?

  • What
    What 6 days ago

    Is that question really necessary?

  • Maria Karvounidou
    Maria Karvounidou 6 days ago

    The views is just a bunch of buildings. It doesn't look really attractive

  • Mr11ESSE111
    Mr11ESSE111 6 days ago

    90% it costs so much because it is in New York while anything else maybe worth 10%

  • Evette Jourdain
    Evette Jourdain 6 days ago

    I dont wanna see nothinf around me but Jesus Christ for 28.5 million. It better have angels as servants grocery better automatically restock my fridge. It better come with the water of life. It better have everything imaginable i want on beck and call.

  • Jesse
    Jesse 6 days ago

    That booty phat

  • jason weng
    jason weng 6 days ago

    U could buy 28.5 millions Detroit homes

  • Kevin Penfold
    Kevin Penfold 7 days ago

    Isn’t this a condo? I thought the definition of an apartment was that it was a rental. Am I wrong?

  • NYC RL52
    NYC RL52 7 days ago

    Should name it ASSHOLE row

  • Kay Ade
    Kay Ade 7 days ago

    I watch to many high impact, action films to comfortably live in a high rise, Billionaires Row or not. I'd crap myself everytime I hear a bang.

  • Jeremy Wilson
    Jeremy Wilson 7 days ago +1

    28.5 mil .. the apartment isn’t even that nice . Like who tf needs chairs that look like cupboards

  • T7K3DOWN
    T7K3DOWN 7 days ago

    The most expensive jacket costs 1/3 of this apartment.

  • Brazuca Subzero
    Brazuca Subzero 8 days ago

    Likes from Brazuca Subzero

  • Ameen Aydan
    Ameen Aydan 8 days ago

    She probably had sex with him afterwards

  • The CringeHub and Lard

    He probably modeled the price after GTA apartments

  • Mahendra Singh
    Mahendra Singh 9 days ago

    Trust me guys...i don't even have 5$ in my account but i watched the entire video

  • ALL- ZERO
    ALL- ZERO 10 days ago

    Apartment 41D... For things the D will do that booty of hers.
    *Seriously, she got the cake.

  • Claire Constance
    Claire Constance 10 days ago

    The heavy clouding filter ruins this

  • Victor Johnson
    Victor Johnson 10 days ago

    New York City is a giant leach. It thrives by sucking the blood out of hard working people across America.

  • timtimzi ni
    timtimzi ni 10 days ago

    ryan serhant is everywhere on youtube. he's taking over . youtube sending me all of his recommended videos :|

  • DJTM0315
    DJTM0315 10 days ago +37

    I tried to convert the 28.5 million to my local currency (Dominican Pesos) and my cellphone calculator gave me an error LOL

  • Osvaldo Ah
    Osvaldo Ah 11 days ago

    why not shove it up both of y’all asses

  • montani3semper
    montani3semper 11 days ago

    Too cheap for me, plus midtown is tacky

  • Anthony Nguyen
    Anthony Nguyen 11 days ago

    Man, getting down stairs must be a pain....🤔

  • Gabi Koonings
    Gabi Koonings 12 days ago +1

    'Signs of an oversupply... without a demand to match'
    Yeah, no shit Sherlock, that's what OVERSUPPLY means.

  • Ls Darius
    Ls Darius 13 days ago

    Ridiculous

  • September 19
    September 19 13 days ago

    28.5 million to throw away, thats chump change

  • Primalizard
    Primalizard 13 days ago

    Oh I’ve been there

  • Nostra Ward
    Nostra Ward 13 days ago

    Keep that shit

  • Krishna Kamath
    Krishna Kamath 14 days ago

    APNA TIME AAYEGA APNA TIME AAYEGA

  • James Veach
    James Veach 15 days ago +2

    one word { CROOKS }

  • Georgia Lynn Jones
    Georgia Lynn Jones 15 days ago

    georgia lynn mobley jones

  • Georgia Lynn Jones
    Georgia Lynn Jones 15 days ago

    stop the sale at e57. georgia lynn mobley wants it. where r her items.? gj

  • Loonytoones85
    Loonytoones85 15 days ago

    If she was going for the 'ugly, 70 year old, liberal hag, who drives a subaru look'....she nailed it.
    Her grossness was too distracting, couldn't even finish the video. 🤮

  • Blitznstitch2
    Blitznstitch2 15 days ago

    The idea of riding an elevator and taking that commute time into account daily when going in and out of home is ugh and worth taking a couple million off the price

  • Chris
    Chris 16 days ago

    ooh floor-to-ceiling windows. Who doesn't want people in other buildings to see them walk around naked in their apartment or shower or shit in their bathroom? I'd pay $28,500,000 so people can watch me and not even know it.

  • RainbowChocolate
    RainbowChocolate 16 days ago

    $28 mil to look at some trees AND i have to share shit with others? hell no

  • jleung12292
    jleung12292 16 days ago

    Typical its NYC anything that looks fancy big price tag

  • jun park
    jun park 16 days ago

    Hmmm its blocked off by other highrise.....

  • Rod Steel
    Rod Steel 17 days ago

    Rich idiot's.

  • fuzziebunnie
    fuzziebunnie 17 days ago

    how much is the HOA? ;-)

  • Hugo Dimas
    Hugo Dimas 18 days ago

    Ryan recently been in the Casey Neistat's vlog that telling about the expensive tower he currently build.

  • RIVER CARDEN
    RIVER CARDEN 19 days ago

    I will never pay almost 30 milion dollars for a CUT view of central park there are buildings in front. It to high. I know is a luxurious apartment with the most perfect security and ameties and the apartment have the best interior materials and is very big without the kitchen.
    The kitchen was bad and it isnt a totally view of the park is a rip of how the billionares row is two block down of central park .

  • Mall Rat
    Mall Rat 20 days ago

    Tommy hilfigers plaza or 432 park Ave I've visited both and both have crazy spectacular veiws

  • Keypenknitreelyo
    Keypenknitreelyo 20 days ago

    #ad

  • Company Broadcast
    Company Broadcast 20 days ago

    The problem Is the people who can buy this apartment are not wasting their time on watching this video

  • Agent
    Agent 20 days ago

    The billion dollar question is... are these buildings airplane-proof??!

  • Tomics
    Tomics 21 day ago

    Guys just use that money to buy ur own land and build your own house however u want with ur own GYM AND EVERYTHING ELSE.

  • Whole Food Plant-Based Man

    For $28.5 million, you can buy houses all over the world.

  • Brandon E. Smith
    Brandon E. Smith 21 day ago

    That building is in the way of my view of Central Park!

  • Sharat
    Sharat 21 day ago

    28.5 mill and but sorry you have to park your car on the street

  • Drew M
    Drew M 21 day ago

    A TLDV version. It's 28.5 because it's looks over a park and rich douche's state it's worth that much. Oh and there's some marble... It's not worth 28.5 million you're essentially buying a status symbol which is worthless..

  • Sabeer Abdulla
    Sabeer Abdulla 21 day ago

    -less- _fewer_ bedrooms

  • Mehmet Akif Aydoğdu
    Mehmet Akif Aydoğdu 22 days ago

    $28.5 Million?!? Thats more than what I make in a year!!!

  • Xiaowu Zhu
    Xiaowu Zhu 22 days ago

    How you escape fire if you on high floors?

  • Masked Anonymous
    Masked Anonymous 22 days ago +1

    I can get a mega mansion that is 10x-15x bigger then that small 28million apartment

  • Trond Tangen
    Trond Tangen 22 days ago

    A terrace at 41, floor?