Two condos tie for Manhattan’s priciest contracts in luxury price slump

Units at 15 West 61st Street, 601 Washington Street, asked $9.25M

New York /
May.May 09, 2022 03:00 PM
From left: 601 Washington Street and 15 West 61st Street (Google Maps, 601 Washington, iStock)

From left: 601 Washington Street and 15 West 61st Street (Google Maps, 601 Washington, iStock)

Manhattan’s signed luxury contracts last week reached a peak of activity for the year, with a slump in prices.

A whopping 43 contracts were signed last week priced at $4 million and above, but no deal surpassed $10 million, according to a report covering contracts signed between May 2 and 8 by Olshan Realty. That’s the first time this has happened since September 2020.

Still, some came close. The top priciest contract was a tie between two condos, both asking $9.25 million.

PH31C at AvalonBay Communities’ 15 West 61st Street has over 2,000 square feet with three bedrooms, three and a half bathrooms and a library. The unit traded in a sponsor sale in the Upper West Side building dubbed Park Loggia.

Amenities in the building include a fitness center, children’s playroom, resident lounge and outdoor garden and terraces.

Apartment 5W at Shibumi Development’s 601 Washington Street was the second condo to tie for first. The unit has nearly 3,000 square feet including three bedrooms and three and a half bathrooms. Off the primary bedroom is a balcony.

The building is a new 10-unit condominium designed by BKSK Architects and features a fitness center, roof terrace and storage.

The second priciest home to enter into contract was a townhouse at 281 West 4th Street, asking $9.1 million. The seller paid $9.6 million for the home in March 2013. The 17-foot-wide, 3-story home has 2,000 square feet with three bedrooms and two and a half bathrooms. It also features landscaped terraces on the ground floor and on the roof.

Out of the total 43 contracts signed, 33 were condos, four were co-ops and six were townhouses. The asking prices totaled nearly $269 million, with a median of $5.8 million. The units spent an average of 766 days on the market.





    Related Articles

    arrow_forward_ios
    (iStock)
    U.S. home price growth slows for first time in five months
    U.S. home price growth slows for first time in five months
    From left: 11 Hoyt Street and 370 Eighth Street
    See clear across Brooklyn, unclothed: Buyer claims $5M penthouse
    See clear across Brooklyn, unclothed: Buyer claims $5M penthouse
    1060 Fifth Avenue (Google Maps, iStock)
    Fifth Ave co-op tops another slow week for Manhattan luxury contracts
    Fifth Ave co-op tops another slow week for Manhattan luxury contracts
    Long Island Board of Realtor's Tessa Hultz (LIRealtor.com, HomeForAllOfUs.org, iStock)
    How not to discriminate: Long Island Realtors launch fair housing effort
    How not to discriminate: Long Island Realtors launch fair housing effort
    Douglas Elliman's Frances Katzen (Douglas Elliman, iStock)
    “Paralysis” hits Manhattan home buyers
    “Paralysis” hits Manhattan home buyers
    (James Davis of Better Angle Media)
    Shaquille O’Neal trades big Florida home for smaller Texas one
    Shaquille O’Neal trades big Florida home for smaller Texas one
    Southern California wildfires (Credit: Getty Images)
    Flame off: Country’s first “wildfire-prepared” home is completed
    Flame off: Country’s first “wildfire-prepared” home is completed
    Island Sotheby’s International Realty agent Dan Omer and Hana Ranch in Maui (Sotheby's International Realty)
    Hawaiian ranch next to Oprah hits market for $75M
    Hawaiian ranch next to Oprah hits market for $75M
    arrow_forward_ios

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

    Loading...