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The property is located steps from Central Park at Mandarin Oriental Residences
The studio’s original asking price was reduced slightly from $3.93 million.
The buyer immediately put the property up for rent, but is having difficulty finding a tenant
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The words “studio in Manhattan” are unlikely to conjure up images of luxury or million-dollar prices.
So it might come as a surprise to learn that a one-bedroom property in the Big Apple sold for $3.88 million in an all-cash deal this year.
The luxurious 691-square-foot studio is located just steps from Central Park at Mandarin Oriental Residences at 685 Fifth Ave. It is located on the 15th floor.
In total, the room costs $5,615 per square foot, making it the most expensive studio to sell in the city this year, according to real estate appraiser Jonathan Miller.
But it’s a bargain compared to its $3.93 million asking price, which doesn’t include additional common charges that total $2,577 per month.
A one-bedroom property in the Big Apple, pictured, sold for $3.88 million in an all-cash deal this year.
The property is fully furnished and features a private 167 sq ft terrace, access to the rooftop pool, cabanas and lounge pictured.
The property is fully furnished and features a private 167 square foot terrace, access to the rooftop pool and cabanas.
There’s also a private restaurant run by Michelin-starred chef Daniel Boulud, an in-residence sommelier service, a spa with a steam bath and a gym, according to your online listing.
The room itself comes with La Bottega bath sets, Georg Jensen home accessories, and even a Dyson hairdryer, valued at around $430.
A source told Mail: ‘It’s a real studio, not a one-bedroom apartment. The only thing you need to bring is your clothes. But you don’t even have to do that. It is truly a “come as you are” building.
The studio was acquired by Hycode USA LLC, a shell company, meaning a corporation with no active business operations or significant assets.
The room itself comes with La Bottega bath sets, Georg Jensen home accessories, and even a Dyson hairdryer, valued at around $430.
In total, the room costs $5,615 per square foot, making it the most expensive studio to sell in the city this year, according to real estate appraiser Jonathan Miller.
The studio was purchased by Hycode USA LLC, a shell company, meaning a corporation with no active business operations or significant assets.
It closed in September and was quickly put back on the rental market for $38,000.
But Mail reports that its monthly price was reduced to $30,000 and again to $19,000 this month. Douglas Elliman rents it.
The building itself houses 65 residences and is managed and managed by Mandarin Oriental. Therefore, residents benefit from perks such as room service and housekeeping.
As of this month, the average studio in New York is 448 square feet and rents for $3,043 a month, according to Apartments.com. It’s unclear how much they typically sell for.
But figures from real estate portal Redfin show that the median sales price of homes in Manhattan is $1.3 million, up 8.3 percent from last year.
In total, homes in the city sell for 219 percent more than the national average. In November, 508 properties were sold in Manhattan, up from 734 last year.