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

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

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.

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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.

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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.