Forty-five contracts were signed last week in Manhattan at $4 million and above, 14 more than the previous week. Condos crushed co-ops, 35-8, with 2 townhouses in the mix. The top 2 deals were triplex penthouse condos sold by sponsors.
Stat Geek Alert: The 45-contract total is the largest since the week of December 13-19, 2021, when 54 contracts were signed totaling $431,564,000. Last week’s volume of $433,315,800 was fueled by 12 deals above $10 million.
Stat Geek Alert II: Twenty of the 35 condo deals were sold by sponsors and averaged $3,359/sq.ft. The average discount was 7% off the original asking price, while the sponsor properties sat an average 1,440 days on the market.
The No. 1 contract was PH72 at 111 West 57th Street, asking $56 million. The condo has 7,256 square feet and a 1,241-square-foot loggia. The triplex penthouse has 5 bedrooms and 4.5 baths. The bottom floor is a giant entertaining space with Central Park views and the south side opens onto a loggia with city views. The middle floor features a 50-foot living room with 14-foot ceilings and faces Central Park; it also has a formal dining room, eat-in kitchen, and a bedroom. The top floor has 4 bedrooms including a giant master suite with a sitting room and captivating views of Central Park. The 60-unit, 82-story building rises 1,428 feet on the former site of the Steinway & Sons piano store. Amenities include a concierge, a fitness center, 82-foot pool, lounge, terrace, and a private dining room, plus a covered driveway entrance. This is the 6th time this year that a unit in the building has been the No. 1 or No. 2 deal in this report.
The No. 2 contract was PHN at 108 Leonard Street, asking $24.5 million, raised from $22 million when the building started marketing in February 2018. The penthouse triplex is on the 14th thru 16th floors and has 6,252 square feet including 5 bedrooms, 5 baths, 2 powder rooms, and 2 terraces totaling 2,173 square feet. The 14th floor has a living room with 16-foot ceilings, arched windows, a kitchen, and bedroom. The 15th floor has 3 bedrooms and a 45-foot terrace. The top floor features a master bedroom suite with a sitting room and terrace on 2 sides. The 16-story, 152-unit condo has 20,000 square feet of amenities including doormen, valet parking, fitness center, lap pool, wine cellar, private dining room, playroom, and a landscaped rooftop terrace.