Report on Contracts Signed
NYC Residential Properties
$4 Million and Above

28 Contracts Signed

As the second week of October drew to a close, new buildings still ruled the Manhattan luxury real estate market. Twenty-eight contracts were signed last week at $4 million and above, 9 of them at 50 West Street averaging $2,355/sq.ft. Featuring spectacular views of the Statue of Liberty, this new condo is scheduled to be completed in 2016.

The No.1 contract was a townhouse at 125 East 70th Street, asking $41 million, reduced from $46 million when it went on the market over a year ago. This 40-foot wide French-style house was built as a pied-a-terre for banking heir Paul Mellon and his second wife Bunny. It was completed in 1966, and has 11,000 square feet including 8 bedrooms, 8 bathrooms, an elevator, and a garden with a reflecting pool. In 2006, the house was sold by Bunny Mellon for $22.5 million to the current sellers.

The No. 2 contract was PH7B at 140 West 12th Street asking $19.750 million. This 3,977-square-foot penthouse has 4 bedrooms, 3.5 bathrooms, and 2 terraces. A large eat-in kitchen and the living room/dining room open onto a terrace that is over 60-feet long. A second terrace is off the master bedroom. The penthouse was sold off of floorplans in the Greenwich Lane, a 5-building condo complex being developed on the former St. Vincent’s Hospital site in the heart of Greenwich Village by the Rudin Organization. Sales started a year ago, and the developer is reporting 68% sold, averaging $3,158/sq.ft.. Amenities include doorman, concierge, health club, a 25-meter pool, garage, and storage.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
October 6-12, 2014