New devs dominate Manhattan luxury contracts

Buyers inked contracts for 13 sponsor sale condos asking $4M+

Sponsor Sales Dominate Manhattan Luxury Market
Corcoran Sunshine president Kelly Mack with 500 West 18th Street and Compass’ Edward HIckey with 30 Crosby Street (Compass, Google Maps, Corcoran)

New developments and condos stole the Manhattan luxury market spotlight last week. 

Buyers signed contracts for 23 condos asking $4 million or more between May 13 and May 19, and 13 of those were sponsor sales, according to Olshan Realty’s weekly report. 

In total, 30 properties — including three townhouses and four co-ops — entered contract last week, down from 32 in the previous period

A condo at One High Line snagged the priciest contract inked in the borough, with an asking price of $17.9 million. West 27A spans 3,500 square feet and has four bedrooms and four bathrooms. 

The unit — which asked $15.5 million according to floor plans in 2018 — also features a 34-foot great room and a bedroom overlooking the Hudson River. 

Amenities at the 236-unit West Chelsea building, once branded as the XI, include a fitness center, 75-foot lap pool, golf simulator and garage. 

Sign Up for the undefined Newsletter

Witkoff Group and Access Industries paid $900 million for the troubled development at a foreclosure sale, triggered by former owner HFZ Capital’s financial ruin, in 2021. The new owners relaunched sales at the building with Corcoran Sunshine in the summer of 2022 under its new moniker, One High Line.  

The second most expensive home to find a buyer was a condo at 30 Crosby Street in Soho, with an asking price just under $11 million. Unit 5B, which hit the market last April asking $11.3 million, spans 4,200 square feet and has three bedrooms and three bathrooms. 

The condo also features a library and screening room. The unit last traded for $8.2 million in 2014.  Amenities in the 13-unit loft building include a 24-hour doorman and full-time superintendent. 

Compass’ Edward Hickey had the listing. 

The homes’ combined asking price was $207.9 million, which works out to an average of $6.9 million and a median of $6.4 million. The typical home spent 859 days on the market and received a 12 percent discount.

Read more

New York
One57 topped another busy week for Manhattan trophy properties
Macklowe drops Compass from One Wall Street sales
New York
Macklowe drops Compass from One Wall Street sales
New York
Serhant shuffles new development execs