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UES townhouse, Tribeca PH top Manhattan luxury market
Long-suffering listing at 10 East 75th Street traded after 10 years, $10M off asking
Manhattan’s luxury market is moving past its Thanksgiving hangover.
The borough notched 17 contracts were signed for homes asking $4 million or more, according to Olshan Realty’s weekly report, up from 12 reported the previous week.
The most expensive home to enter contract was a limestone townhouse at 10 East 75th Street, which asked $23.5 million and spent roughly two months on the market to cap off a decade of sales attempts.
The seven-story, 19.5-foot-wide home spans nearly 10,500 square feet. The home has six bedrooms and 5.5 bathrooms, along with a landscaped roof garden and an elevator.
Alison Schneider, daughter of former Bear Stearns CEO James Cayne, and her then-husband bought the home for $8.3 million in 2002. The 100-year old home underwent a three-year renovation by architect Peter Pennoyer and designer Victoria Hagan before listing in 2012 for $33.5 million and again in 2015 for $38.5 million.
The asking price was later reduced to $28 million before the property was pulled off the market in 2018. Annual real estate taxes are $260,000.
Brown Harris Stevens’ John Burger and Heather Sargent had the listing.
The second most expensive home to enter contract last week was Unit PH at 1 North Moore Street, asking $20 million. The Tribeca property’s asking price is down from $30 million when it was listed in June 2022. The home last sold for $8 million in 2012.
The quadruplex penthouse spanning 5,500 square feet and has three bedrooms and four bathrooms. It also has 2,000 square feet of outdoor space. A roof terrace atop the boutique condo building has a 21-foot infinity pool, hot tub, outdoor shower and a full kitchen.
Platinum Properties founder Khashy Eyn had the listing.
The unit appears to be the same that appeared in 2021 to be the priciest rental in New York City history, renting for $85,000 per month, or $15.45 per square foot per month.
Of the 17 units to enter contract last week, 11 were condos, four were townhouses and two were co-ops.
The homes’ combined asking price was $150.6 million, which works out to an average asking price of $8.9 million and a median asking price of $6.6 million. The typical home spent 458 days on the market and received a 12 percent discount.