Multi-million dollar homes on the market

TRD New York /
Jan.January 12, 2009 05:32 PM

A 13-room duplex at Rosario Candela-designed 960 Fifth Avenue, at East 77th Street, is now on the market for $32.5 million, according to Streeteasy.com. The 5,300-square-foot unit includes four bedrooms, five full bathrooms and private elevator landings on both floors. The apartment is owned by Palm Beach-based shopping center magnate Murray Goldman.

Leonard Steinberg, executive vice president at Prudential Douglas Elliman, said it’s impossible to know whether the unit will sell in this market, but that the kinds of high-end buyers who are looking right now might be interested. “The buyers who are willing to commit right now are the ones who are looking at the best of,” and The 960 Fifth Avenue unit could present an “opportunity to select the best of without having too much competition.”

“Two years ago, there might have been a feeding frenzy,” he said. But today, “you can think about it [and] take your time.”

Other units on the market with high-ticket prices include $42.4 million and $38 million units at The Plaza, a unit at 101 Central Park West, on the market for $25.7 million, and a $25 million unit at 15 Central Park West, according to Streeteasy.com. Streeteasy did show that The Plaza and 15 Central Park West units have seen price cuts.

Luxury apartments with unique features are still fetching high prices, Paula Del Nunzio, a Brown Harris Stevens managing director and senior vice president, said last week on CNBC.

The asking price for The 960 Fifth Avenue unit is nearly twice the highest sales price ever reached in the building. A 4,000-square-foot unit sold for about $16 million in 2005 or 2006, Steinberg said, and another unit for $16.5 million.

Eva Mohr, senior vice president of Sotheby’s and the broker for the unit, could not be reached for comment.


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