Twenty-two contracts were signed last week in Manhattan at $4 million and above, 12 fewer than the previous week. Condos outsold co-ops, 15-5, and 2 townhouses were in the mix.
Stat Geek Alert: The lull in the action is typical of the Easter holiday week: The 10-year average of contracts for that week is 23.
The No. 1 contract was 92W at 217 West 57th Street, a sponsor unit asking $19.054 million. The unit refers to the 92nd floor but is really the 62nd floor. The building has 98 stories, but the sponsor inflated the floor numbers for marketing purposes. The unit has nearly 12-foot-high ceilings and 3,073 square feet that includes 3 bedrooms, 3.5 bathrooms, and a 29’ x 23’ living room with windows on 2 sides featuring sweeping views of Central Park and the Hudson River. It is in Central Park Tower, a 1,550-foot-tall skyscraper with 179 units that started marketing in 2018 as the world’s tallest residential building. Over 50,000 square feet of amenities include indoor and outdoor pools, a fitness center, a children’s playroom, and a club room on the 100th floor (which is actually the 68th floor) that includes a ballroom, bar, dining facilities, and a cigar lounge.
A similar sponsor unit, 95W, closed in February for $16,336,250. Year-to-date, 6 units have closed in Central Park Tower averaging a 23% discount off the original asking price. The closed prices averaged $5,096/sq.ft. with the average size of a unit at 3,221 sq.ft. The sponsor has been offering a broker’s incentive of a 5% commission.
The No. 2 contract was 15D at 50 West 66th Street, asking $11.875 million, raised from $10.9 million when the condo started marketing off of floorplans last summer. It has 3,889 square feet including 5 bedrooms and 5.5 bathrooms. Amenities include doormen, a fitness center, indoor lap pool, an outdoor saltwater
pool and jacuzzi, basketball and pickleball courts, screening room, game room, bike room, and dog-washing facility.