search

The Real Deal Logo

Trending

Developers have a new tax break. Now they must figure it outDevelopers have a new tax break. Now they must figure it outBushburg buying Rudin’s half-empty FiDi office building for $160MBushburg buying Rudin’s half-empty FiDi office building for $160MHousing deal finally passes; here are the detailsHousing deal finally passes; here are the detailsMajor developers are converting South Florida malls into mixed-use projectsMajor developers are converting South Florida malls into mixed-use projects
Residential
New York

Hudson Yards, Central Park Tower units top Manhattan luxury market

Swell in activity, prices indicates fall sales season has arrived

Hudson Yards, Central Park Tower Top Manhattan Market
15 Hudson Yards and 217 West 57th Street in New York (Wikipedia, Hudson Yards)

It’s officially fall in Manhattan’s luxury market. 

Activity and prices surged for a second straight week, with 26 contracts signed for homes asking $4 million or more, according to Olshan Realty’s weekly report. The homes’ combined asking price of $228.7 million was the highest tracked by the report since mid-July. 

That’s a strong turnaround from where the market was two weeks ago, when the seasonal Labor Day slowdown lingered into late September and just eight contracts were signed.

The most expensive home to enter contract last week was PH88B at 15 Hudson Yards, with an asking price just under $25 million. 

The sponsor unit originally asked $32 million when it started marketing four years ago. The 5,200-square-foot duplex condo has four bedrooms, five and a half bathrooms and 26-foot ceilings. 

Sign Up for the undefined Newsletter

Amenities in the 88-story, 285-unit building include a 75-foot pool, a ballroom and a residents’ lounge.

The second most expensive home to enter contract last week was 70W at 217 West 57th Street, also known as Central Park Tower. The unit last asked $19.9 million, down from $21.5 in 2018. 

The three-bedroom, 3.5-bathroom condo has 13.5-foot ceilings and spans nearly 3,200 square feet. A corner living room offers views of Central Park. 

Central Park Tower is a 1,550-foot-tall skyscraper that initially marketed itself as the tallest residential building in the world. Amenities include indoor and outdoor pools and a club with a ballroom, bar, dining facilities and a cigar lounge.

Of the 26 homes to enter contract last week, 17 were condos, six were co-ops and three were townhouses. The average asking price was $8.8 million and the median asking price was $6.3 million. The typical home spent 804 days on the market and received a 13 percent discount.

Read more

Companies and People
Olshan realty
Tags
Luxury Real EstateManhattanOlshan Realty