Two penthouses set records for Tribeca, FiDi last week
Sales volume for homes asking over $4 million remains strong
Manhattan’s luxury market broke at least one record last week, possibly two, though only the final closing price will determine for sure.
One contract set the record for the highest asking price in Tribeca, according to the Olshan Report, which tracks weekly the number of contracts signed for Manhattan homes asking $4 million or more. A second contract is among the highest asking prices ever signed in the Financial District and could become the biggest deal in the neighborhood depending on the final closing price.
The Tribeca property was a penthouse at 67 Vestry Street which was last listed at $22.5 million. The unit has four bedrooms, a 2,337-square-foot terrace that wraps around the apartment and has 75 feet of frontage overlooking the Hudson River. The 13-unit luxury building was developed by Iliad Realty Group.
The second potentially record-setting contract was a penthouse at Lightstone’s 130 William Street designed by renowned architect Sir David Adjaye. The four-bedroom unit was last asking $20 million. The 4,665-square-foot unit’s multiple terraces and loggias total 2,312 square feet. If it closes at that price, it would beat the current record holder, which is a penthouse at 25 Park Row, according to Donna Olshan, the report’s author. (She corrected the FiDi record-holder hours after her report’s initial release.)
The penthouse on Park Row went into contract last year at an asking price of $25 million but closed at $19.5 million. If the penthouse at 130 William closes higher, it would be the priciest deal in FiDi, said Olshan.
Either way, Olshan admitted the deal represents a “spectacular sale for FiDi.”
The total number of luxury contracts penned last week in Manhattan was 35. That makes it the 21st consecutive week that more than 30 luxury deals have been signed in the borough.
The median asking price was $8.75 million. The average discount from the original asking price to the final asking price was 8 percent, the same as last week. Condo units made up the majority of the deals with 19 contracts, while co-ops accounted for 10 transactions. There were five townhouses and one cond-op.
Correction: A previous version of the story incorrectly identified the developer of 67 Vestry as Aby Rosen’s RFR Realty.