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New York

Sponsor unit at 35 Hudson Yards leads Manhattan luxury market 

Solid streak continues with Related property signed for 50% off asking: Olshan

141 E 18th Street and 35 Hudson Yards (Google Maps, Getty, 35 Hudson Yards)
141 E 18th Street and 35 Hudson Yards (Google Maps, Getty, 35 Hudson Yards)

Activity remains strong in Manhattan’s luxury market, but the sponsor unit listed by Related Companies that led the pack still had to settle for a 50 percent discount off its initial asking. 

Thirty-one units went into contract last week, the same as the previous period, according to Olshan Realty’s report of homes in the borough asking $4 million or more. 

The most expensive unit to enter contract was Unit 8401 at 35 Hudson Yards. The 4,600-square-foot unit had an asking price of $13.8 million, down from $27.2 million in 2019. 

The sponsor unit has five bedrooms and 5.5 bathrooms, along with 11-foot ceilings and views of the Hudson River. 

Amenities at the building include a fitness center, golf simulator, screening room, dining room and a residents’ lounge with a terrace. 

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The second most expensive home to enter contract last week was a 5-story brownstone at 141 East 18th Street, with an asking price of $11.7 million. 

The 14.8-foot-wide townhouse was bought for $5.8 million in 2015 and renovated by architect Steven Harris. The home, which does not have an elevator, was listed in May. 

It spans nearly 3,200 square feet and has a one-bedroom unit on the ground floor and three bedrooms on the floors above. Annual real estate taxes total $43,000.

Of the 31 units that went into contract last week, 19 were condos, 10 were co-ops and two were townhouses. 

The homes’ combined asking price was $207.9 million, which works out to an average asking price of $6.7 million and a median asking of $5.7 million. The typical home received a 9 percent discount — up 2 percent from the previous week — and spent an average of 586 days on the market.

Activity in Manhattan’s luxury market has recovered after a mid-May slump. The market also recently saw a week in which no contracts went out for townhouses after the property type had a historically strong week in April and hot start to May. 

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