Twenty-four contracts were signed last week at $4 million and above, a normal total for this period in previous years. But set against the backdrop of last week’s stock market meltdown and rising interest rates, it raises hopes for a resilient luxury market going forward.
The top spot went to the 77th floor at 432 Park Avenue, but the heaviest activity occurred in the $4- to $6-million range, which included 11 apartments and 4 townhouses.
The top 2 contracts were at 432 Park Avenue, which were sold by separate owners to one buyer: 77B, asking $45 million, and 77A, asking $23 million. 77B has 5,421 square feet, and 77A has 2,633 square feet. The combined price of $68 million pencils out to $8,443/sq.ft., approximately $9 million above what the owners paid in 2016. The units feature 12.5-foot ceilings and windows that measure 10 x10 feet with views of Central Park, the Hudson and East Rivers. 432 Park is 96 stories high with 106 units, a concrete-and-glass edifice designed by Rafael Vinoly that is 1,396-feet tall and can be seen from almost anywhere in the 5 boroughs. Amenities include a fitness center, a 75-foot swimming pool, private dining room, parking, a garden, and a children’s playroom.
The No. 3 contract was PHA at 40 Bleecker Street, asking $10.185 million. The condo has 2,936 square feet including 4 bedrooms and 4.5 baths, plus a wraparound terrace totaling 896 square feet. It was sold off of floorplans. The condo’s offering plan was approved by the Attorney General over a year ago, and the building had been quietly marketed since the fall until its sales office opened last week. Amenities in this 12-story, 61-unit building include a concierge, pool, 11 parking spaces, and a landscaped courtyard.
EAST SIDE | WEST SIDE | MIDTOWN | DOWNTOWN | Asking $/sq.ft. | Totals | |
---|---|---|---|---|---|---|
Co-ops | 3 | 0 | 0 | 2 | Avg.Ask: $5,495,000 |
5 |
Condos | 2 | 4 | 4 | 5 | Avg.Ask: $10,066,667 Avg.$/sq.ft.: $3,577/sq.ft. Avg.Size: 2,814 sq.ft. |
15 |
Condop* | 0 | 0 | 0 | 0 | Avg.Ask: |
0 |
Townhouses | Avg.Ask: $5,335,000 Avg.$/sq.ft.: $1,603/sq.ft. Avg.Size: 3,329 sq.ft. |
4 | ||||
TOTALS | 6 | 4 | 5 | 9 | 24 |
CLICK HERE TO VIEW 20 CONTRACTS SIGNED ON APARTMENTS
CLICK HERE TO VIEW 4 CONTRACTS SIGNED ON TOWNHOUSES |
Donna Olshan, President |
Emily Chen, Private Wealth Real Estate Services
|
Donna Olshan President dso@olshan.com |
Emily Chen Private Wealth Real Estate Services Chief of Research ecc@olshan.com |