220 CPS Resale Tops Manhattan’s Luxury Market

A resale condo at 220 Central Park South led Manhattan’s luxury market into the long weekend.

Unit 39A at the Billionaires’ Row tower, asking $34.5 million, was the priciest of 17 homes asking $4 million or more to find a buyer last week, according to Olshan Realty’s weekly report.

The 3,100-square-foot-apartment, which hit the market last December, has three bedrooms and three bathrooms. The seller agreed to purchase the unit off of floor plans in 2015, and it closed in September 2019 for $22.8 million.

Corcoran’s Deborah Kern had the listing. Compass’ Daniel Blatman brought the buyer.

Vornado Realty Trust’s tower has raked in a number of pricey resales since closings began in 2018. Earlier this year, two condos at the building traded for $82 million — up 30 percent from their sale prices in 2020 — marking one of the most expensive deals so far this year.

The deal came two years after the property made headlines for a sky-high resale. Billionaire investor David Och sold his 73rd-floor penthouse for $188 million — one of New York’s priciest residential deals and more than double the $93 million he paid for it in 2019.

The second most expensive home to enter contract was 217 West 21st Street in Chelsea, with an asking price of $29 million. The three-story multifamily building, known as the Star Cinema Building, hit the market in November for $34 million.

The building, once a warehouse in the 1920s, includes a finished basement, two-car garage on the ground floor, an elevator and a terrace on the second floor.

Corcoran’s Scott Stewart had the listing.

Of the 17 properties to land signed contracts, 12 were condos, four were co-ops and one was a townhouse. The total was down from 18 contracts inked in the previous period but was in line with the 10-year average in the week before Labor Day.

The homes’ combined asking price was $208 million, which works out to an average price of $12.2 million and a median of $8.9 million. The typical home spent 563 days on the market and received a 12 percent discount.

This article has been updated with buyer broker information for 220 Central Park South Unit 39A.