Not everyone’s rattled: Pricey NYC listings are still climbing

Five homes asking a combined $171 million hit the market as virus fears escalated

Mar.March 17, 2020 02:30 PM
Paul Yablon of Moore Capital Management and 730 Park Avenue (Credit: Steve Mack/Getty Images for Manhattan Youth Baseball, Compass)

Paul Yablon of Moore Capital Management and 730 Park Avenue (Credit: Steve Mack/Getty Images for Manhattan Youth Baseball, Compass)

As coronavirus fears swept through New York City last week, some home sellers and their agents forged ahead.

The top five priciest new listings last week range from a $48 million condo at 15 Central Park West to a Greenwich Village townhouse asking $25 million.

Combined, the top five listings totaled $171 million. That’s nearly $43 million more than the previous week’s total and over $64 million more than the amount from the week before.

The uptick in the value of new listings was not expected, given the mounting number of COVID-19 cases and the stock market’s breathtaking plunges.

Last week, data from appraiser Jonathan Miller of Miller Samuel showed that listing inventory had slowed to a crawl.

By the end of last week, many residential brokerages, including new-development heavyweights Douglas Elliman Development Marketing and Corcoran Sunshine Marketing Group, shifted to working remotely.

Some brokers began calling on their peers to halt property showings out of a “moral obligation” to government recommendations of social distancing. An industry-wide debate among residential firms in the city erupted over whether in-person showings should proceed while politicians called for non-essential activities to stop.

At the same time, luxury contract signings remained steady last week, according to the weekly Olshan Realty report.

Here’s a look at the five most expensive properties, and the agents representing them, that came online from March 9 through March 15, according to an analysis of StreetEasy and Compass data.

1. 15 Central Park West, Unit #PH41 | Upper West Side | $48 million
The three-bedroom condo has 13-foot ceilings, a fully-fitted chef’s kitchen and views of Central Park, Lower Manhattan and the Hudson River. The unit is being shown by private appointment, according to a description from listing agent Fredrik Eklund of Douglas Elliman.

2. 730 Park Avenue, Unit #10/11C | Upper East Side | $42 million
The six-bedroom co-op is in a building that dates to 1928 but the duplex was assembled from two units and gut-renovated to feature 21-foot ceilings and a cantilevered staircase with floating glass railings. It has a library and wood-burning fireplace. The seller is hedge funder Paul Yablon of Moore Capital Management. The Corcoran Group’s Elizabeth Sahlman has the listing.

3. Baccarat Hotel & Residences, Unit PH48/49 | Midtown | $39.9 million
The five-bed, five-bath condo spans 7,381 square feet with a 600-square-foot terrace. It’s been listed twice before — in 2018 and 2019 — at the same price. Elliman’s Eva Penson is handling the property.

4. 25 West 10th Street | Greenwich Village | $25 million
The nine-bedroom Greek Revival–style townhouse dates all the way back to 1846. The five-story home is 25 feet wide and spans 7,457 square feet. It has a rear garden and two outdoor terraces. Mark Thomas Amadei of Sotheby’s International Realty has the listing.

5. 15 Central Park West, Unit #24A | Upper West Side | $16.2 million
The five-bedroom condo offers nearly 2,220 square feet, 11-foot ceilings and a master ensuite bathroom including a Jacuzzi tub and therapy steam shower with body jets and an overhead rain-shower head. The listing agent is Noel Berk at Engel & Völkers New York City.

Write to Erin Hudson at [email protected]

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