Twenty-seven contracts were signed last week in Manhattan at $4 million and above, three more than the previous week. Condos outsold co-ops, 15-3. It was the biggest week for townhouses we’ve ever recorded, with 9 inked deals including the top 2 sales—both in Greenwich Village.
Stat Geek Alert: Year-to-date, 146 contracts have been signed on townhouses, a total that is approaching the 2014 record of 153 contracts. Average prices and size are relatively the same as in past years, with the average townhouse asking $1,825/sq.ft. and the average size at 5,647 square feet.
The Covid virus and its variants are driving the townhouse market: Buyers are opting for a bubble to avoid high-rise buildings with elevators, while securing large space for home offices, a private gym, gardens, and terraces. Most of the houses that have traded in 2021 needed work, but last week’s top 2 deals were signed at premium prices that reflected quality renovations.
The No. 1 contract was 30 Grove Street, asking $28 million; it was listed in September 2019. It was purchased in 2011 for $8.25 million and impeccably renovated by a top designer and contractor. The 5-story, 21-foot-wide house has 5,864 square feet including 5 bedrooms, 3 bathrooms, 3 powder rooms, 2 fireplaces, and an elevator. It has a double-height ceiling in the living room, a rooftop greenhouse, landscaped garden, terrace, wine cellar, and gym.
It is one of the most expensive houses to ever sell in the West Village.
The No. 2 contract was 79 Horatio Street, asking $26,400,000; it was listed in January. The house was purchased for $21 million in 2014 after being renovated.
At 23 feet wide and 5 stories, the house has 7,900 square feet including 5 bedrooms, 5 bathrooms, 3 powder rooms, a staff room, and an elevator. It has over 2000 square feet of outdoor space between a landscaped garden and rooftop terrace.