“124th floor” at Central Park Tower tops Manhattan luxury contracts

Unit in Gary Barnett’s building with 98 above-ground stories was asking $66M

Unit 124 at 217 West 57th Street and Gary Barnett (Extell Development, StreetEasy)
Unit 124 at 217 West 57th Street and Gary Barnett (Extell Development, StreetEasy)

Gary Barnett has another pricey sale lined up at Central Park Tower.

Unit 124 at Extell Development’s 217 West 57th Street went into contract last week asking $66 million, leading Olshan Realty’s report on contracts signed for Manhattan homes priced at $4 million or more.

The 7,000-square-foot apartment encompasses all of what Extell calls the “124th floor” (the building actually has 98 above-ground stories, but for marketing purposes some 30 floor numbers are skipped) and has five bedrooms and five and a half bathrooms.

The 31-by-50-foot living room has windows on three sides that offer views of Central Park and the city, while the primary bedroom suite has a bathroom and sitting room in the west wing of the apartment.

A similar sponsor unit closed on the “123rd floor” in May for over $48 million. This year, 29 units in the building have closed, averaging $5,132 per square foot and 2,958 square feet. That works out to about $15.2 million per apartment and $441 million overall.

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Extell in 2017 pegged Central Park Tower’s sellout at $4 billion, but last year it appeared it could fall $1 billion short of that.

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The second priciest Manhattan home to enter into contract last week was PH2 at Second Development Services and the Richport Group’s 22 Bond Street in Noho. The unit asked $17.5 million, reduced from nearly $22 million. The developers started marketing off floorplans in 2015, but cycled through four brokerage firms as they struggled to sell units.

The triplex penthouse condo has almost 4,000 square feet across three bedrooms and three and a half bathrooms, along with nearly 1,000 square feet of outdoor space.

Overall, 17 luxury contracts were signed last week — 12 for condos and five for co-ops.

The units spent an average of 590 days on the market, with an average discount of 4 percent. The median asking price was $6 million and the average was $10 million.