Manhattan’s luxury housing market ended June on a strong note, with a strong stock market helping boost home sales in the borough.

Last week there were 29 contracts for homes priced at $4 million or more in the borough, according to a weekly report from Olshan Realty. While the total broke Manhattan’s record for five consecutive weeks of signings of 30 or more contracts, the month cemented its status as one of the strongest Junes since the early 2000s, second only to 2021.

The most expensive buyer was Unit PH of 180 East 88th Street in Carnegie, with an asking price of $29 million. The three-story penthouse is 5,500 square feet and has five bedrooms and four bathrooms.

It also boasts high ceilings ranging from 13.5 feet to 28 feet, a sculptural staircase, loggias with high arches, and terraces on three levels.

Developer DDG first sold the unit for $28 million when it launched the floor sale in 2017. Sponsors raised the asking price to $33 million in 2022 and lowered it to $29 million in January.

Corcoran Sunshine is responsible for the sales of the 47-unit building. Its amenities include a fitness center, doorman, basketball court, game room, and resident lounge with catering kitchen.

The second most expensive home under contract is unit 60E at 217 West 57th Street, with an asking price of $22.1 million. The 35th-floor apartment is 3,400 square feet and has three bedrooms and three bathrooms.

It features Central Park views, 11-foot ceilings, a formal entry foyer and gallery, and floor-to-ceiling windows.

Billionaires’ Row tower, billed as the tallest residential tower in the world at 1,550 feet, has been offering deep discounts since fall 2021, when developer Gary Barnett sold units for less than The price specified in the building’s offering plan was approximately 25% lower, according to a TRD pro analysis.

Even with the markdowns, transaction prices for supertall buildings are among the most expensive in the borough. Unit 122 sold for $45 million last December, making the unit the 10th most expensive sale in New York City in 2022, according to a report. TRD pro analysis.

Extell Development Marketing is leading the sale of the 179-unit building, which broke ground in 2018. Its amenities include indoor and outdoor swimming pools, a fitness center, a children’s playroom and a club room on the 68th floor with a ballroom, restaurant, bar and cigar lounge.

Of the 29 homes that came under contract last week, 13 were condos, nine were co-ops and seven were townhomes.

The homes had a combined asking price of $239 million, with an average asking price of $8.3 million and a median asking price of $6.5 million. The average home was discounted 5% off its original asking price and stayed on the market for 488 days.

read more

Leave a Reply

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