Sixteen contracts were signed last week at $4 million and above in Manhattan, 4 fewer than the previous week. Condos outsold co-ops, 10 to 3, with 2 townhouses and 1 condop in the mix.
Stat Geek Alert: Historically, July and September are the worst months in the luxury market, and the 3rd quarter is typically the worst quarter of the year. Surprisingly, given rising interest rates and a tumbling stock market, this September has so far managed to ink 66 contracts in the last 4 weeks, a performance on a par with previous Septembers. Take a peek at these stats: 2019 was an outlier with only 51 deals, but 2018 had 68, 2017 had 65, and 2016 had 66.
The No. 1 contract was a townhouse at 182 East 64th Street, asking $10.95 million, reduced from $12 million when it was listed in December 2020. This 25-foot-wide house has 6,865 square feet and has been divided into 4 floor-thru apartments; it is being delivered vacant. Annual property taxes total $185,250. The seller is the estate of Jayne Wrightsman, a legendary philanthropist who lived at 820 Fifth Avenue and passed away in 2019.
The No. 2 contract was Unit 10 at 520 West 28th Street, asking $10 million, reduced from $13.5 million when it started marketing off of floorplans in 2015. The unit is on the 6th floor, and has 4,220 square feet including 4 bedrooms, 4.5 bathrooms, and a 246-square-foot balcony. It is in a new 11-story, 39-unit condo, designed by the late Iraqi-born architect Zaha Hadid, who passed away in 2016, and was the first woman to win the Pritzker Prize (2004). This was Hadid’s only residential commission in New York and employs a bold, contemporary design incorporating hand-crafted metal, glass-curtain walls, and curved balconies--all overlooking the High Line. Amenities include a 75-foot saline pool, a separate cold-plunge pool, spa and fitness facilities, and a garage that uses robotic technology instead of an attendant to park cars.