Mandarin Oriental, 15 CPW lead Manhattan luxury contracts out of 2023

The 10 signed contracts included sponsor units and those asking $10M+

15 CPW, Mandarin Oriental Lead Manhattan Luxury Out of 2023
15 Central Park West, 685 Fifth Avenue (Getty, mo-residencesfifthavenue, Epicgenius/CC BY-SA 4.0/via Wikimedia Commons)

Manhattan’s luxury market registered a quiet holiday week, carried by contracts for sponsor units and high-dollar asks. 

Just 10 units asking $4 million or more went into contract between Dec. 25 and 31, according to Olshan Realty’s weekly report of luxury home contracts in the borough. Of those, six were offered by sponsors, and four were asking $10 million or more.

The most expensive home to enter contract last week was unit 3B at Zeckendorf Development’s 15 Central Park West, with an asking price of $18.5 million. 

The 3,100-square-foot condo last traded in 2007, when the seller paid $8.1 million for the three-bedroom, 3.5-bathroom home. The living room, dining room and primary bedroom all face Central Park. 

The iconic Upper West Side property known as “Limestone Jesus” was designed by Robert A.M. Stern. Amenities include a 14,000-square-foot fitness center, a 75-foot pool and a resident-only restaurant. 

Douglas Elliman’s Noble Black had the listing.

The second most expensive home to enter contract last week was a penthouse in Shvo’s Mandarin Oriental-branded condo building at 685 Fifth Avenue. Unit PHA had asking price of $16.5 million, up from $15 million when the building started marketing in spring 2022. 

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The 2,300-square-foot condo has two bedrooms, 2.5 bathrooms and a 95-square-foot terrace with views of Central Park. 

The 65 units in the 29-story building are being marketed as furnished and with dishes, glassware, and Frette linens. The five units that have closed so far have averaged $5,120 per square foot.

Elliman’s Jade Chan had the listing.

Of the 10 units to enter contract last week, seven were condos and three were co-ops. 

The homes’ combined asking price was $93.9 million, which works out to an average asking price of $9.4 million and a median asking price of $8.2 million. The typical home spent 860 days on the market and received an 8 percent discount.

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