Inside the $250 million penthouse on ‘Billionaires’ Row’

The biggest test of the ultra-luxury real estate market at the moment is a penthouse on the world's tallest residential building.

The most expensive listing is a three-story mega- home in Central Park Tower. It spans the 129th to 131st floors and is over 1,400 feet high. It is being marketed as the ultimate trophy for a billionaire who wants to tower over New York City.

The Staircase at The Penthouse at Central Park Tower

Ryan Serhant said that he has sold some of the most expensive real estate in New York and Florida. I've never seen anything like this before.

As storm clouds gather over real estate, financial markets and the broader economy, the big question is whether the asking price can be achieved. Real estate sales in Manhattan have slowed recently. According to a report from Miller Samuel and Douglas Elliman, the number of contracts for $5 million or more properties fell in August compared to a year ago.

Miller Samuel says that sales of apartments priced at $10 million or more have fallen. The Aman New York condo is the most expensive sale of the year so far.

The asking price for a Central Park Tower penthouse is not realistic.

Donna Olshan is a luxury broker.

According to Olshan, there have been 23 closed sales in the building this year, with an average price per square foot of $5,228. The larger of the two penthouses is looking for more than $13,000 per square foot.

The Penthouse at Central Park Tower: Sunrise Facing South

The penthouse at 220 Central Park South was sold for $190 million, or $20,000 per square foot.

It is priced at a great value on a per- square foot basis. It is a very large apartment with a lot of amenities.

The triplex has seven bedrooms and eight baths. The main salon has a stairwell that goes up through the three stories and a large ballroom on the top floor.

Extell Development builds several of Manhattan's new super-towers. To protect the privacy of would-be buyers, Extell and Serhant are limiting public viewings to a few areas.

The Grand Salon at The Penthouse at Central Park Tower

The highest terrace in the world is at the home. A 60-foot outdoor pool, 62-foot indoor saltwater pool, spa, private garden, game room, conference room, fitness center, squash court, screening room, and a wine and cigar lounge are all included.

Serhant said the apartment has the best views, with Central Park spreading out below like a green welcome mat and hills of New Jersey and New York in the distance.

The ultra-wealthy, who are less affected by stock market declines, rising rates and recession fears, have already shown strong interest.

He said that the purchaser of the apartment was looking to invest in more than one asset. Someone who owns expensive art, has an expensive car collection, and wants the best of the best, that is the person.

The billionaire was going to see the apartment.

They asked if it was the best apartment in the world when they saw it for the first time. They said they would fly in to see it.

The Penthouse at The Central Park Tower: Sunset over Central Park.