Thirty-six contracts were signed last week at $4 million and above, an impressive 15 more than the previous week. Condos outsold co-ops, 27 to 7, and 2 townhouses were in the mix. Over half of the properties were sold by developers.
Stat Geek Alert: The luxury market has registered 30 or more contracts signed in 25 out of the last 27 weeks. And in 17 of the last 27 weeks, the top 2 contracts have been penthouse apartments—and that also includes this week’s top sale.
The No. 1 contract was PH60/61 at 56 Leonard Street, asking $49.995 million. The seller bought the unit off of floorplans and closed for $47,866,945 in June 2017. The duplex condo has 7,779 square feet including 5 bedrooms and 5 bathrooms. Two terraces and a balcony total 1,252 square feet. The condo features 19-foot ceilings in the living room, a gas fireplace, and breathtaking views of the city including the Hudson River and Statue of Liberty. It is the most expensive Downtown condo contract registered this year. 56 Leonard is a 60-story, 145-unit condo designed like a glass obelisk by Pritzker Prize-winning architects Herzog & de Meuron. It has 17,000 square feet of amenities including a 75-foot pool, indoor/outdoor theaters, landscaped sundeck, fitness center, sauna, lounge, and a children’s playroom.
The No. 2 contract was the 12th floor at 1030 Fifth Avenue asking $20 million. The co-op has been on and off the market since September 2017, cycling through 3 brokerage firms and starting as high as $45 million. It spans the entire floor and has 5 bedrooms, 5.5 bathrooms, and 10-foot ceilings. The living room, library, and formal dining room all have fireplaces and face Central Park. The unit needs to be renovated. The building allows only 30% mortgage financing, and the monthly maintenance is $22,866.