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New York

Macklowe’s 737 Park leads Manhattan luxury contracts

More than half of 21 signed contracts were below 31st Street in latest of year-long trend

Harry Macklowe with 737 Park Avenue
Harry Macklowe with 737 Park Avenue (Street Easy, Getty)

More than half of the 21 contracts signed last week in Manhattan’s luxury market were for downtown properties, but two Midtown units topped the list.

The priciest contract went to 20A at 737 Park Avenue asking $13.75 million, according to Olshan Realty’s weekly report on Manhattan’s signed contracts at $4 million and above. The sponsor unit in developer Harry Macklowe’s building has been repeatedly on and off the market since 2014, with asking prices as high as $19.695 million.

It has over 4,000 square feet across four bedrooms and four and a half bathrooms, along with narrow terraces around the unit.

The building, which has 103 units, was built by Sam Minskoff and Sons. Macklowe closed on his purchase of the building in August 2011, paying $360 million for the 21-story property he was expected to turn into condominiums.

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The second priciest home to enter into contract was 54B at Hines’ and Singapore-based Pontiac Land Group’s 53 West 53rd Street, asking $13.245. That’s reduced from $14.025 million when it was listed off of floor plans in 2015.

The condo has over 3,000 square feet across three bedrooms and three and a half bathrooms. The unit also features 11-foot ceilings, a 40-foot living room and a 31.5-foot primary bedroom.

The building was designed by Pritzker Prize-winning architect Jean Nouvel, with interiors by Thierry Despont. Amenities include a fitness center, 65-foot lap pool, golf simulator, wine room, library, theater, storage and a children’s playroom.

Of the 21 contracts, 14 were condos, three were co-ops and four were townhouses.

The combined asking price for the homes was $149 million, with a median of nearly $6 million. The units spent an average of 590 days on the market, with an average discount from original to last asking price of 4 percent.

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Donna OlshanLuxury Real EstateOlshan Realty