Thirty-one contracts were signed last week in Manhattan at $4 million and above, 5 fewer than the previous week. Condos clobbered co-ops, 25-4, with 2 townhouses in the mix.

Stat Geek Alert: Twelve out of 25 condos were sold by sponsors. The sponsor units averaged 20% discounts off original asking prices. The units averaged $3,371/sq.ft. and lingered an average of 1,768 days on the market. You read that right—almost 5 years on the market!

The No. 1 contract was a sponsor unit on the 116th floor at 217 West 57th Street, asking $52.9 million, reduced from $64 million when it was listed off floorplans in 2018. The unit has 7,074 square feet including 5 bedrooms, 5.5 bathrooms, and a 31’x 50’ living room with windows on 3 sides that offer sweeping views of Central Park and the city. A master bedroom suite with a gigantic bathroom and sitting room occupies the entire west wing of the apartment. It is in Central Park Tower, a 1,550-foot-tall skyscraper with 179 units that started marketing in 2018 as the world’s tallest residential building. Over 50,000 square feet of amenities include indoor and outdoor pools, a fitness center, a children’s playroom, and a club room on the 100th floor that includes a ballroom, bar, dining facilities, and a cigar lounge. A similar sponsor unit on the 120th floor closed in December for $45,138,375. Since January 2022, 72 units have closed in Central Park Tower, averaging $4,610/sq.ft. with an average size of 3,118 sq.ft.

The No. 2 contract was the 46th floor at 111 West 57th Street, asking $23.75 million, reduced from $24.5 million when it was listed in September. The seller paid $26,525,594 in October 2022 for the condo, which has 4,492 square feet including 3 bedrooms and 3.5 bathrooms. A 50’ x 21’ great room with 14-foot ceilings overlooks 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 5th time this year that a unit in the building has been the No. 1 or No. 2 deal in this report.