Macklowe’s 737 Park Ave. notches priciest contract of the week: Olshan

26 contracts were signed on luxury pads between June 5-11

TRD New York /
Jun.June 12, 2017 08:59 AM

Harry Macklowe’s 737 Park Avenue TRData LogoTINY, the tony Upper East Side condo conversion so nice that it’s where the developer reportedly kept his fiancee Patricia Landeau for two years, recorded the city’s priciest contract last week.

The sponsor unit went into contract at $25 million, one of 26 luxury contracts inked last week, according to the weekly luxury report from Olshan Realty. It’s the first week in over a month with fewer than 30 luxury contracts signed.

The 6,111-square-foot condo at 737 Park Avenue has five bedrooms, six baths and a powder room, and wraps around the corner of 71st Street and Park Avenue.

Macklowe teamed up with CIM Group on the conversion of the building, which has averaged sale prices north of $3,000 per square foot in the last three years. The building notched the second-priciest deal on Park Avenue in 2015 when French financier Raymond Svider paid $32 million for a 12,000-square-foot penthouse.

The building is where Macklowe reportedly “hid” his new lover for two years. Macklowe and his wife, Linda, are currently embroiled in a bitter divorce, and Macklowe has pledged to marry Landeau once the divorce is finalized.

The No. 2 contract last week was on a 20-foot-wide townhouse at 115 East 79th Street that was inked for $19.44 million. The median asking price for the week was $5.8 million, with an average discount of 6 percent and homes spent an average of 492 days on the market. [Olshan]Rich Bockmann

(To view more residential sales at 737 Park Avenue, click here)


Related Articles

arrow_forward_ios
From left: Donald Trump (pictured in the 1980s), Steve Ross, Charles Kushner, Harry Macklowe with (inset) Hiten Samtani and Charles Bagli (Getty, Sasha Maslov)

Scoundrels of the skyline: Charles Bagli on the most colorful characters in the real estate biz

Scoundrels of the skyline: Charles Bagli on the most colorful characters in the real estate biz
Harry Macklowe and the GM Building at 767 Fifth Avenue (Getty, Michele Ursino via Flickr)

Harry Macklowe is behind on rent for HQ at GM Building: report

Harry Macklowe is behind on rent for HQ at GM Building: report
From left: G.H. Palmer's Geoffrey Palme, RFR Holdings' Aby Rosen, Macklowe Properties' Harry Macklowe, Thor Equities' Joseph Sitt and Ellicott Development's Carl Paladino (Getty, iStock)

Harry Macklowe, Aby Rosen and Joe Sitt among 6,500+ developers, landlords who got PPP bucks

Harry Macklowe, Aby Rosen and Joe Sitt among 6,500+ developers, landlords who got PPP bucks
146 West 57th Street (Credit: Google Maps)

Manhattan luxury contract signings fall to lowest level since 2009

Manhattan luxury contract signings fall to lowest level since 2009
John Tashjian (center) with Harry Macklowe and 200 East 59th Street (Credit: Emily Assiran Photography)

Life after Macklowe: New sponsor cuts prices at condo tower

Life after Macklowe: New sponsor cuts prices at condo tower
Harry and Linda Macklowe (Credit: Getty Images, iStock)

The Macklowes’ massive art collection nears auction

The Macklowes’ massive art collection nears auction
136 Grand Street, #3WR

Buyer nabs $8.8M co-op with mirrored room, stripper pole

Buyer nabs $8.8M co-op with mirrored room, stripper pole
Time Warner Center and 154 East 63rd Street (Credit: StreetEasy, Wikipedia and iStock)

Busiest December in years for Manhattan luxury property deals

Busiest December in years for Manhattan luxury property deals
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...