Twenty-eight contracts were signed last week at $4 million and above, as condos outsold co-ops, 22 to 5, plus 1 townhouse adding to the total. The Spring condo market has been getting a boost thanks to some developers who have been negotiating healthy discounts north of 10%. Prime examples were last week’s No. 1 and No. 2 contracts.
That would be 52B, asking $29.950 million, and 61B, asking $29 million, at 157 West 57th Street--both sold by the sponsor Extell. 52B has 5,475 square feet including 5 bedrooms and 5.5 bathrooms. 61B, decorated by Jeffrey Beers, has 4,193 square feet including 3 bedrooms and 3.5 bathrooms. Both condos have smashing Central Park views. According to Bloomberg, Extell eventually discounted these units and sold them in the $24 million range. Two recent sponsor sales in this same building averaged 15% discounts. 36 sponsor units are left out of the 90 that went on the market in 2012. 157 West 57th Street was designed by Pritzker Prize-winning architect Christian de Portzamparc, with interiors by Thomas Juul-Hansen. The 90-story condo was built above the 5-star Park Hyatt Hotel that has a separate entrance for its 210 rooms. Amenities include use of hotel services, fitness center, pool, private dining, a library lounge, performance space, and a garage.
The No. 3 contract was also a sponsor condo sale--this one the 61st floor at 45 East 22nd Street, asking $24.65 million. It has 4,664 square feet including 4 bedrooms, 4.5 bathrooms, and panoramic views of Madison Square Park and the entire city. Five floors of amenities include a concierge, doorman, a fitness center with boxing and private training suite, golf simulator, basketball court, playroom for children, library, billiards and card rooms, terrace with outdoor grill, and 2 entertaining lounges on the 54th floor.
EAST SIDE | WEST SIDE | MIDTOWN | DOWNTOWN | Asking $/sq.ft. | Totals | |
---|---|---|---|---|---|---|
Co-ops | 1 | 2 | 0 | 2 | Avg.Ask: $9,160,000 |
5 |
Condos | 4 | 3 | 5 | 10 | Avg.Ask: $9,224,045 Avg.$/sq.ft.: $3,346/sq.ft. Avg.Size: 2,757 sq.ft. |
22 |
Condop* | 0 | 0 | 0 | 0 | Avg.Ask: |
0 |
Townhouses | Avg.Ask: $11,500,000 Avg.$/sq.ft.: $1,769/sq.ft. Avg.Size: 6,500 sq.ft. |
1 | ||||
TOTALS | 6 | 5 | 5 | 12 | 28 |
CLICK HERE TO VIEW 27 CONTRACTS SIGNED ON APARTMENTS CLICK HERE TO VIEW PAGE 2 OF 27 CONTRACTS SIGNED ON APARTMENTS
CLICK HERE TO VIEW 1 CONTRACTS SIGNED ON TOWNHOUSES |
Donna Olshan, President |
Emily Chen, Private Wealth Real Estate Services
|
Donna Olshan President dso@olshan.com |
Emily Chen Private Wealth Real Estate Services Chief of Research ecc@olshan.com |