NoHo penthouse, UES co-op lead Manhattan luxury into June

Buyers signed contracts for 24 homes asking $4M+

NoHo Penthouse, UES Co-op Top Manhattan Luxury Market

From left: Sotheby’s Serena Boardman and Corcoran’s Richard Ziegelasch along with 36 Bleecker Street and 640 Park Avenue (Getty, Sotheby’s, Corcoran Group, Google Maps)

Contract activity in Manhattan’s luxury market started June short of its year-ago levels. 

Over the last eight weeks, the number of signed contracts for homes asking $4 million and above has dropped 11 percent compared to the same period in 2023, according to Olshan Realty’s weekly report. 

Buyers inked deals for 24 homes in the price range between June 3 and June 9 — the same total notched in the previous period despite the four-day week. 

A duplex penthouse at 36 Bleecker Street asking $21 million was the priciest pad to find a buyer last week. The NoHo condo spans nearly 4,500 square feet and has four bedrooms and five bathrooms. 

Unit PHA, which last traded for $14.8 million in 2019, hit the market in December with a $22.5 million asking price. It also features a 28-foot great room, library, solarium and two terraces. 

The listing broker, Corcoran’s Richard Ziegelasch, is also representing another penthouse in the building, known as the Schumacher. Unit PHB is available to rent for $70,000 per month. 

Amenities in the 20-unit building, built in 1895, include doormen, fitness center, storage, playroom and rooftop garden. 

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Since the building’s conversion to condos in 2012, it’s attracted a number of high-profile buyers including Aby Rosen and art dealer Alberto Mugrabi. Actor Jonah Hill also purchased a four-bedroom condo for $9 million in 2015 and found a buyer for it in 2022, after just five weeks on the market. 

The second most expensive home to enter contract was the third floor of 640 Park Avenue, with an asking price of $15 million. The four-bedroom co-op hit the market in July 2021 with a $24 million asking price. 

The home, which last traded for $20.5 million in 2011, also features two staff rooms, six bathrooms, 10-foot ceilings and a formal dining room facing Park Avenue. 

Sotheby’s International’s Serena Boardman had the listing. 

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Amenities in the 12-story building include doorman and storage, and the co-op board allows a maximum of 35 percent financing. It was built in 1914 as a “millionaire’s rental at millionaire’s prices,” according to The New York Times.

Of the 24 homes to find buyers, 17 were condos, six were co-ops and one was a townhouse. 

The homes’ combined asking price was $193 million, which works out to an average of $8.1 million and a median of $6.2 million. The typical home spent 711 days on the market and received a 13 percent discount.