Tribeca penthouse tops Manhattan luxury contracts

Four-bedroom, five-bathroom unit asked nearly $15M

New York /
Mar.March 21, 2022 11:45 AM

67 Franklin Street (City Realty, Olshan Realty, iStock/Photo Illustration by Steven Dilakian for The Real Deal)

A duplex condo built on top of an 1881 cast iron building took the gold among luxury contracts signed last week in Manhattan.

The 4,568-square-foot penthouse at 67 Franklin Street took the top spot in Olshan Realty’s weekly report on the borough’s signed contracts at $4 million and above. The four-bedroom, five-bathroom unit asked $14.95 million and entered the market in July 2019.

The unit includes a den, four terraces totaling 1,374 square feet and a 43-foot great room with 20-foot ceilings.

 

(Source: Olshan Realty)

The 13-unit condo, known as the Cast Iron House, was designed by Pritzker Prize-winning architect Shigeru Ban. Amenities in the building include a gym and children’s playroom.

The second priciest contract went to 12A at 720 Park Avenue, asking $14 million. The unit has been on and off the market since April 2017, when it started at $28 million.

The pre-war co-op has three bedrooms and five and a half bathrooms. A living room, dining room, library and primary bedroom comprise 92 feet overlooking Park Avenue, in addition to a wine vault and entertaining space with 14-foot ceilings.

Amenities in the 17-story, 29-unit co-op include a fitness center and a squash court.

Of the 35 contracts signed between March 14 and 20, asking prices totaled $235 million with a median asking price of $6.73 million. There was an average 4 percent discount from original ask to last asking price and units spent an average of 653 days on the market.

Twenty-six of the units entered into contract were condos and five were co-ops. The week also had three townhouses and one condop in the mix.

The week notched six less contracts than the previous week, which marked a high for the borough’s luxury market so far in 2022. In the first two months of the year, 244 contracts were signed at $4 million and above, according to Olshan Realty, the strongest start of any year since the report began tracking in 2006.





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