Twenty-eight contracts were signed last week in Manhattan at $4 million and above, one more than the previous week. Condos outsold co-ops, 20-4, with 4 townhouses in the mix.
Stat Geek Alert: In the first 10 weeks, 2024 has registered 235 deals at $4 million and above, close to last year’s 240 contracts. One big difference: Sponsor deals declined by 24%, from 88 contracts in 2023 to 67 so far this year. The drop might be the result of tightening inventory in new development.
The No. 1 contract was 29B at 1 West End Avenue, asking $17,950,000, reduced from $19,500,000; it was the last sponsor unit sold in the building. The building started marketing off of floorplans in the second half of 2015. The duplex condo has 5,302 square feet including 4 bedrooms and 5.5 bathrooms. A 33-foot great room with double-height ceilings opens onto a 3,299-square-foot terrace. Upstairs is a library. The 245-unit condo has doormen, a concierge, and a garage, plus 35,000 square feet of amenities including a 75-foot swimming pool, fitness center and spa, terraces with cabanas, a children’s playroom, media, billiards and game rooms, and storage. The buyers are a family from the Upper West Side who saw the unit in December and started to negotiate in the middle of January. After several weeks of negotiation and a pause in the action, a contract was finally signed with a closing scheduled this month.
The No. 2 contract was 50W at 50 West 66th Street, asking $17,700,000. The 2,816-square-foot condo has 3 bedrooms and 3.5 bathrooms. A 24’ x 22’ great room faces Central Park and opens onto a 139-square-foot loggia. Amenities in the 122-unit condo include doormen, a fitness center, indoor lap pool, and an outdoor saltwater pool, plus a jacuzzi, basketball and pickleball courts, screening room, game room, bike room, and a dog-washing facility. Closings in this new condo are expected sometime in 2024.