UES condo snatches top spot among Manhattan luxury contracts

First 12 weeks of 2022 saw 394 contracts signed at $4M and above

New York /
Mar.March 28, 2022 01:00 PM

(iStock, 109east79.com, Illustration by Kevin Cifuentes for The Real Deal)

UPDATED, March 30, 2022, 2:30 p.m.: The first 12 weeks of 2022 were a mixed bag compared to the sky-high numbers in Manhattan’s luxury market the same time last year.

The first quarter saw 394 contracts signed at $4 million and above, outpacing last year’s first quarter record of 390 contracts. Still, during that same period, asking volume totaled $3 billion, dropping from $3.322 billion last year, partially thanks to a decline in trophy sales.

Seventy contracts priced at $10 million and above were signed, compared to 82 contracts during the same period in 2021, according to Olshan Realty.

The priciest unit to enter into contract last week was PH17 at 109 East 79th Street, asking $29.35 million. Spanning 6,548 square feet, the unit has five bedrooms and five and a half bathrooms, with 10-foot ceilings throughout. The living room has a fireplace and the formal dining room opens onto two terraces that total 336 square feet overlooking 79th Street.

The 20-story, 31-unit condo was designed by Steven Harris Architects and is expected to be completed later this year. Amenities in the building include an international-sized squash court that converts to a basketball court, a gym, golf simulator, game room and a spa treatment center.

Of the 31 units in the building, 24 have sold with asking prices averaging $4,067/sq.ft.

The second priciest home to enter into contract was a townhouse at 280 West 11th Street. The property asked nearly $19 million, slightly reduced from the $20 million it asked when it went on the market in September 2020.

The six-story house spans 7,921 square feet and has been divided into six apartments. The nearly 26-foot-wide property backs on Bleecker Gardens, a common garden shared by 13 neighboring houses.

Of the 33 contracts signed between March 21 and 27, asking prices totaled $267 million with a median asking price of $5.899 million. There was an average 5 percent discount from original ask to last asking price and units spent an average of 469 days on the market.

Twenty-one of the units entered into contract were condos and 10 were co-ops. The week also had two townhouses in the mix.

An earlier version of this story incorrectly stated the unit sales and prices of 109 East 79th Street. 





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