Twenty-five contracts were signed last week in Manhattan at $4 million and above, 4 fewer than the previous week. Condos outsold co-ops, 16-5, with 2 condops and 2 townhouses in the mix.
Stat Geek Alert: It was the second week in a row that the luxury market registered more than 20 contracts. And for the 2nd week in a row, only 2 properties cracked the $10-million mark.
The No. 1 contract was the 12th floor at 778 Park Avenue, asking $27.9 million; it has been on and off the market since January 2021. The co-op has 5 bedrooms, 5 bathrooms, 2 powder rooms, and 4 staff rooms. The living room, library, and formal dining room---all with fireplaces--overlook Park Avenue. A master with a dressing room also faces Park Avenue. Two staff rooms are downstairs off the kitchen area and upstairs is another staff wing with 2 more bedrooms. Amenities in this 18-unit building include a doorman, storage, and resident manager. The co-op board does not allow mortgage financing, and renovations are only permitted from May 15-September 15. Our internal records show that the unit was purchased in 1993 for $8.9 million and renovated a year later by famed architect Peter Marino.
The No. 2 contract was PHB at 160 Wooster Street, signed at $14.5 million in an off-market deal with the buyer living in the building. The original floorplan is a duplex condo on the 6th and 7th floors with 3,205 square feet that includes 2 bedrooms, 2 bathrooms, and 2 powder rooms. The upper floor features a dramatic 49-foot great room with 20-foot-tall ceilings and a fireplace. It opens onto a 1,573-square-foot terrace, which also has a fireplace and views in all directions. Downstairs is a kitchen that opens onto family room; it also has 2 bedrooms including a master with a fireplace. The 15-unit building has a doorman, resident manager, roof terrace, and storage. The seller purchased the unit in 2007 for $6.4 million.