While high mortgage rates and low inventory plagued the city’s residential market, ultra-luxury buyers still closed top-dollar deals in 2023.
Though appraiser Jonathan Miller characterized it as a “year of disappointment,” the high-end luxury market wasn’t to blame. Manhattan resales ruled the roost in the first half of the year, with the top deals exceeding the most expensive new development sales by nearly $2,700 per square foot.
Some familiar names — 220 Central Park South, the Plaza Hotel and 432 Park Avenue — ranked among the priciest deals in the city, making Billionaires’ Row and the Upper East Side home to the most top-dollar sales.
But penthouses in downtown Manhattan infiltrated the luxury market’s upper echelon, with three deals for $50 million or more rounding out this year’s list.
Here are New York City’s 10 most expensive home sales of 2023:
220 Central Park South | $80 million
Vornado’s 220 Central Park South once again nabbed the priciest deal in the city with an $80 million resale. In August, an unknown buyer paid about $10,000 per square foot for Units 20E and V-8, then owned by an entity tied to Nima Capital, an investment firm led by Suna Said.
The Modlin Group’s Adam Modlin and Douglas Elliman’s Paige Nelson represented the seller. MGS Group Real Estate’s Maggie Gold Seelig brought the buyer.
Though the deal stole the top slot, it pales in comparison to 2022’s most expensive sale: $188 million, reaped by billionaire investor David Och for his 73rd-floor penthouse.
220 Central Park South | $75 million
Coming in at No. 2 is a $75 million resale at 220 Central Park South. The seller, a trust tied to Hudson Valley Lighting Group founder David Littman, sold the 6,600-square-foot, three-bedroom unit in October for 35 percent more than it paid four years prior.
The off-market deal worked out to more than $11,000 per square foot.
Compass’ Elizabeth Sahlman held the off-market listing and Corcoran’s Deborah Kern represented the buyer.
220 Central Park South | $75 million
A 64th-floor unit at the Billionaire’s Row tower sold for $75 million in November. The apartment last sold for $54 million in 2020 to an unidentified buyer.
Several other high-profile sales closed this year at 220 Central Park South. Real estate investor Ofer Yardeni sold his three-bedroom apartment in February for $33.8 million — $12 million more than he paid.
Douglas Elliman’s Michael Lorber and Corcoran’s Deborah Kern had the listing. Douglas Elliman’s Eleonora Srugo represented the buyer.
1165 Madison Avenue | $68 million
Two penthouses at Miki Naftali’s 1165 Madison Avenue sold for $68 million in March. An unknown buyer paid roughly $5,200 per square foot for the apartments, which have a combined 13,000 square feet, 11 bedrooms and 12 bathrooms.
Compass’ Alexa Lambert had the listing,
The deal was among a host of pricey sales at Naftali’s Upper East Side project, known as the Bellemont. Another penthouse at the building went into contract in February 2022 with an asking price of $25 million.
768 Fifth Avenue | $66 million
The Plaza Hotel broke its sale record in October when an unknown buyer purchased a 12,000-square-foot residence for just under $66 million. The deal exceeded the $60 million that Harry Macklowe and ex-wife Linda paid at the Plaza in 2007.
Unit 1109 last sold in 2008 for $45 million. It was also one the most expensive sales in the city that year.
432 Park Avenue | $65 million
Harry Macklowe failed to achieve his dream of a nine-figure deal for the 79th-floor unit at 432 Park Avenue, but its October sale still landed among the priciest in 2023.
After two years on the market, the 8,000-square-foot apartment sold for $65 million — less than half its original $135 million asking price. The deal included two studio apartments, which upped the total price to $70 million.
Noel Berk of Engel & Volkers had the listing. Douglas Elliman’s Shari Scharfer Rollins brought the buyer.
111 West 57th Street | $53 million
JDS Development scored a string of lofty deals in 2023 — but often with a price cut. The developer sold a three-bedroom penthouse at its Billionaires’ Row supertall for $53 million, about $7 million less than the asking price in the offering plan.
The unknown buyer paid about $7,600 per square foot in an all-cash deal in October.
Corcoran has handled sales at the 60-residence tower since last February, when the team — led by Joe Alvarez, Kane Manera and Janet Wang — took over from Douglas Elliman Development Marketing.
150 Charles Street | $52 million
Steve Witkoff’s West Village condo made headlines in July when an unknown buyer paid $52 million — a stunning $11,500 per square foot — for a penthouse.
Corcoran’s Richard Ziegelasch represented the seller in the deal, and Corcoran’s Deborah Kern represented the buyer.
A company associated with Credit Suisse executive Robert Shafir last purchased the unit in 2016 for $29 million. The apartment was renovated extensively before it traded again this year.
443 Greenwich Street | $51 million
Bill and Melinda Gates’ daughter bought a six-bedroom penthouse at Metro Loft Management’s 443 Greenwich for $51 million.
A Seattle-based trust linked to Jennifer Gates paid roughly $5,700 per square foot in January for the triplex. The unit, which features a 3,200-square-foot terrace, was once owned by Formula One champion Lewis Hamilton.
Compass’ Nick Gavin had the listing.
151 Wooster Street | $50 million
A penthouse at Alfa Development’s Soho condominium sold for $50 million in July to an unknown buyer in an off-market deal.
The deal for the apartment — a combination of units — came out to $5,000 per square foot. The seller was an entity tied to Stefan Kaluzny, managing director of private equity firm Sycamore Partners.
Douglas Elliman’s John Gomes represented the seller with Fredrik Eklund. Ryan Serhant represented the buyer.
Read more
Residential
New York
Here are NYC’s 10 priciest homes of 2022
Residential
New York
Old is gold: Manhattan’s priciest resales trounce new development
Residential
New York
Vornado’s 220 CPS snags $80M resale
This article has been updated with information on listing and buyer brokers involved in the deals.