# Aman New York's $180 million penthouse

By [Brandon Donnelly](https://brandondonnelly.com) · 2019-06-16

730-fifth-avenue, aman-new-york, amanjunkies, condo, condo-and-hotel, condo-sales, crown-building, development, fifth-avenue, mansion-tax, new-construction, new-york, new-york-city, oko-group, vladislav-doronin, wall-street-journal, wsj

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![](https://storage.googleapis.com/papyrus_images/73f517323ed25af7ff3ed19607e63193.jpg)

This morning I was reading about [Aman's](https://www.aman.com/) new condo and hotel project in New York, which is planned for the [100-year-old Crown Building](http://okogroup.com/portfolio/crown-building) at 730 Fifth Avenue. It will have 83 hotel rooms and just 22 homes, and be the first urban condominium for the resort company.

Owned by [OKO Group](http://okogroup.com/), the hospitality company is mostly known for their "sleek, minimalist hotels in secluded, far-flung destinations," [according to the WSJ](https://www.wsj.com/articles/a-russian-billionaires-1-3-billion-bet-on-new-yorks-iconic-crown-building-11560440111?mod=hp_major_pos22&cx_testId=10&cx_testVariant=ctrl&cx_artPos=0#cxrecs_s). Rooms go for upwards of USD 2,500 per night and they, supposedly, have a rabid customer base known as "[Amanjunkies](https://www.instagram.com/explore/tags/amanjunkie/)."

What's interesting about this project is that (among other things) it's a bet the Aman brand will translate to an urban context and drive above-market pricing. And it will do it at a time when the ultra high-net-worth segment of the market in NYC has been cooling because of a new "[mansion tax](https://streeteasy.com/blog/what-is-nycs-mansion-tax/)" and probably other factors.

The five-storey penthouse, which will be built into the building's "crown," is asking USD 180 million. If/when it sells, it will break the record for the most expensive home ever sold in the city on a square foot basis at $14,358 psf.

If you subscribe to the WSJ, you can [read the full story here](https://www.wsj.com/articles/a-russian-billionaires-1-3-billion-bet-on-new-yorks-iconic-crown-building-11560440111?mod=hp_major_pos22&cx_testId=10&cx_testVariant=ctrl&cx_artPos=0#cxrecs_s). I find it valuable to see how projects position themselves.

_Rendering:_ [_Aman_](https://www.aman.com/resorts/aman-new-york)

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*Originally published on [Brandon Donnelly](https://brandondonnelly.com/aman-new-yorks-dollar180-million-penthouse)*