SJP’s former townhouse tops luxury contracts in Manhattan

The home on East 10th Street among 9 deals last week

New York /
Aug.August 17, 2020 02:00 PM
Sarah Jessica Parker with 20 East 10th Street and 150 Charles Street (Getty, Google Maps)

Sarah Jessica Parker with 20 East 10th Street and 150 Charles Street (Getty, Google Maps)

A townhouse that once belonged to Sarah Jessica Parker was the priciest property to go into contract last week in Manhattan.

The Greenwich Village home, which features six bedrooms, seven bathrooms and seven fireplaces, was last asking $18.25 million — down from $22.9 million when it was listed in 2017.

The deal was one of nine luxury contracts brokered last week in Manhattan, a slight bump up from six the week before, but a sharp fall compared to the same period in previous years.

“It’s been a very weak August,” said Donna Olshan of Olshan Realty, who tracks luxury contracts. “This particular week, it’s the lowest total seen since 2011.”

The seller purchased the 25-foot home from the “Sex and the City” star and her husband, Matthew Broderick, in 2015, for $18.25 million. Listing agent Matthew Coleman of Coleman Real Estate told Olshan the sellers had seen interest in the property since they first listed it, but had not been ready to sell.

While the closing price was not disclosed, it is likely the sellers ultimately sold it at a loss.

The second priciest deal was a 2,975-square-foot condo at 150 Charles Street. The seller bought the property in 2016 for roughly $13 million. It was listed last April for $14.45 million. By the time it went into contract last week, it was asking $11.5 million.

In addition to price drops, brokers have also seen negotiations stretch over longer periods since the pandemic hit.

“I am finding that these luxury deal negotiations are prolonged, and can go on for a month or longer,” Coleman said. “You can be going back and forth on relatively small terms.”

The third biggest deal last week — and the only luxury co-op to go into contract in Manhattan — was a five-bedroom unit at 941 Park Avenue. The 5,000-square foot home features a library, formal dining room and three staff rooms. It also needs a total renovation, according to Olshan’s market report.

Kirk Henckels of Compass, who represented the seller, told Olshan the property was listed at the beginning of July and ultimately came down to a bidding war. The buyers were a young couple with children, he added.

“We were hoping for pent-up energy like they had in London so the strategy did work,” he said.

“There was some discount, but we stuck with pre-Covid pricing,” he added. “It was not at ask but relatively close.”

Write to Sylvia Varnham O’Regan at [email protected]


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