Terrace takeover: UES condo tops Manhattan luxury contracts

PHC at 200 East 83rd street was asking $32.5M

(Streeteasy, iStock, Illustration by Kevin Cifuentes for The Real Deal)
(Streeteasy, iStock, Illustration by Kevin Cifuentes for The Real Deal)

An Upper East Side home with four terraces led Manhattan’s luxury contracts into March.

The priciest home to enter into contract last week was PHC at 200 East 83rd Street, according to Olshan Realty’s weekly report on homes asking $4 million and above. The unit was last asking $32.5 million, up from the $30 million it asked when the building started marketing last May,

The duplex condo has 6,592 square feet across six bedrooms and six and a half bathrooms. Its four terraces total 1,864 square feet.

The home features a 37-foot great room, which opens onto a terrace facing Central Park, along with a den off the kitchen that opens onto a 55-square-foot terrace. The upstairs bedrooms have terraces off a primary suite and second bedroom.

Architect Robert A.M. Stern designed the new 85-unit, 38-story building. Its amenities include a fitness center, 70-foot swimming pool, yoga and massage rooms, steam bath, movie theater game room, children’s playroom, communal terrace and lounge.

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Over 90 percent of the 85 units have sold, averaging $2,900 per square foot.

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The second priciest home to enter into contract was 47A at 157 West 57th Street. The 3,228-square-foot condo was asking $14.4 million, reduced from $17 million when it was listed by the sponsor in 2013. The three-bedroom, three-and-a-half-bathroom condo includes a living room and primary bedroom with views of Central Park.

The 90-story, 90-unit building was designed by architect Christian de Portzamparc with interiors by Thomas Juul-Hansen. The condo is above the Park Hyatt Hotel and has a separate entrance for its 210 rooms. Amenities include hotel services, a fitness center, pool, private dining, a library lounge, performance space and garage.

Overall, the week between Feb. 28 through March 6 had 41 contracts signed. Of those, 32 were condos, seven co-ops, one condop and one townhouse. Asking prices totaled $281 million with a median of $5.49 million.

Homes had an average discount from original to last asking price of just 2 percent and properties spent an average of 484 days on the market.