Tribeca penthouse tops Manhattan luxury contracts

A duplex condo built on top of an 1881 cast iron building took the gold among luxury contracts signed last week in Manhattan.

The 4,568-square-foot penthouse at 67 Franklin Street took the top spot in Olshan Realty’s weekly report on the borough’s signed contracts at $4 million and above. The four-bedroom, five-bathroom unit asked $14.95 million and entered the market in July 2019.

The unit includes a den, four terraces totaling 1,374 square feet and a 43-foot great room with 20-foot ceilings.

(Source: Olshan Realty)

The 13-unit condo, known as the Cast Iron House, was designed by Pritzker Prize-winning architect Shigeru Ban. Amenities in the building include a gym and children’s playroom.

Read more

Residential

New York

Opulent townhouse sale sets Upper West Side record

Residential

New York

Two Russian billionaires shopping NYC properties

The second priciest contract went to 12A at 720 Park Avenue, asking $14 million. The unit has been on and off the market since April 2017, when it started at $28 million.

The pre-war co-op has three bedrooms and five and a half bathrooms. A living room, dining room, library and primary bedroom comprise 92 feet overlooking Park Avenue, in addition to a wine vault and entertaining space with 14-foot ceilings.

Amenities in the 17-story, 29-unit co-op include a fitness center and a squash court.

Of the 35 contracts signed between March 14 and 20, asking prices totaled $235 million with a median asking price of $6.73 million. There was an average 4 percent discount from original ask to last asking price and units spent an average of 653 days on the market.

Twenty-six of the units entered into contract were condos and five were co-ops. The week also had three townhouses and one condop in the mix.

The week notched six less contracts than the previous week, which marked a high for the borough’s luxury market so far in 2022. In the first two months of the year, 244 contracts were signed at $4 million and above, according to Olshan Realty, the strongest start of any year since the report began tracking in 2006.