Manhattan’s luxury home market held steady in the first week of June, led by two properties in Uptown.

According to Olshan Realty’s weekly report on Manhattan homes asking $4 million or more, 31 units came under contract in the borough last week. The total was down just one from the previous period, part of the market’s rebound from a mid-May slump.

The most expensive home that came under contract last week was 84E, a sponsor unit on the 54th floor of Extell Development’s Central Park Tower, which is asking $34 million.

The 4,200-square-foot condo has four bedrooms and 4.5 bathrooms, as well as over 11-foot ceilings and sweeping views of Central Park.

Located at 217 West 57th Street, the property is a 1,500-foot, 98-story, 179-unit supertall that went on sale in 2018 as the tallest residential building in the world. Billionaire’s Row has been known to sell for discounted prices since fall 2021, when TRD Pro analysis found developers were selling units for about 25% less than what was listed in the building’s offering plan.

The building boasts over 50,000 square feet of amenities including indoor and outdoor pools, fitness center and children’s playroom. The 68th floor club on the 100th floor includes a ballroom, bar and cigar lounge.

The second-most expensive home that came under contract last week was Alchemy Properties’ PHA at 378 West End Avenue, with an asking price of $25 million.

The three-story apartment is nearly 6,200 square feet and features five bedrooms, five bathrooms, and two powder rooms. It also has more than 1,300 square feet of outdoor space, including the living room, library, and small patio off the kitchen, as well as a 900-square-foot rooftop terrace.

The unit was previously under contract in June 2021 but did not close. It returned to the market in May.

It is located in a new 57-unit building designed by CookFox with over 11,000 square feet of amenities including a fitness center, 75-foot saltwater pool, half-court basketball court, music room, and pet grooming facility.

Developer Alchemy has seven units remaining, two of which are under contract. The average asking price for these units is over $3,000 per square foot.

Of the 31 units that went into contract last week, 20 were condos, nine were co-ops, one was a condo and one was a townhouse.

The homes had a combined asking price of $268.3 million, with an average asking price of $8.6 million and a median asking price of $6.2 million. The typical home gets a 7% discount and stays on the market for 628 days.

read more

Leave a Reply

Your email address will not be published. Required fields are marked *