Extell’s Central Park Tower leads Manhattan luxury contracts
Homes asking $4M+ ride May momentum into June
Manhattan’s luxury market held steady in the first week of June, with two uptown properties leading the pack.
The borough saw 31 units go into contract last week, according to Olshan Realty’s weekly report of Manhattan homes asking $4 million or more. The total was down just one from the previous period, which was part of the market’s rise from a mid-May slump.
The most expensive home to enter contract last week was 84E, a 54th-floor sponsor unit at Extell Development’s Central Park Tower asking $34 million.
The 4,200-square-foot apartment has four bedrooms and 4.5 bathrooms, as well as sweeping views of Central Park and ceilings over 11 feet high.
The property at 217 West 57th Street is a 1,500-foot-tall, 98-story supertall with 179 units that started marketing in 2018 as the world’s tallest residential building. The Billionaire’s Row tower earned a reputation for closing deals at a discount since the fall of 2021, when a TRD Pro analysis found the developer was selling units for about 25 percent less than the prices listed in the building’s offering plan.
The building has over 50,000 square feet of amenities, including indoor and outdoor pools, a fitness center, a children’s playroom. A 68th-floor club marketed as on the 100th level includes a ballroom, bar and cigar lounge.
The second most expensive home to enter contract last week was PHA at Alchemy Properties’ 378 West End Avenue, asking $25 million.
The triplex condo measures nearly 6,200 square feet and has five bedrooms, five bathrooms and two powder rooms. It also has more than 1,300 square feet of outdoor space, including small terraces off the living room, library and kitchen, along with a 900-square-foot rooftop terrace.
The unit had previously been in contract in June 2021 but didn’t close. It went back on the market in May.
It’s in a new, 57-unit building designed by CookFox that has over 11,000 square feet of amenities including a fitness center, 75-foot saline lap pool, half-court basketball court, music room and pet-grooming facility.
Developer Alchemy has seven units left, including two in contract. The units are asking on average more than $3,000 per square foot.
Of the 31 units that entered contract last week, 20 were condos, nine were co-ops, one was a cond-op and one was a townhouse.
The combined asking prices of the homes was $268.3 million, which works out to an average asking price of $8.6 million and a median asking price of $6.2 million. The typical home received a 7 percent discount and spent 628 days on the market.