New Devs Rule Manhattan’s Luxury Market

Two familiar Manhattan new developments again claimed the top spots in the borough’s luxury market last week.

Condos at 20 East 76th Street and 140 Jane Street were the priciest of 22 homes asking $4 million or more to land signed contracts between Nov. 18 and Nov. 24, according to Olshan Realty’s weekly report. The total was significantly less than the previous period’s 37 inked deals, which together notched the largest weekly sales volume in roughly three years.

Unit 15A at the Surrey Residences was the most expensive home to find a buyer, with an asking price of $26 million. The 5,000-square-foot apartment has four bedrooms, four bathrooms, a corner great room and library.

The hotel-condo project by British billionaires David and Simon Reuben is no stranger to the borough’s weekly contract reports, which has previously featured other units asking $24 million and $28 million.

Sales of the residences, which include 14 condos on top of the 100-room hotel, launched quietly this summer, with all but one of the units reportedly finding buyers, though Streeteasy shows only 10 properties with signed contracts.

The duplex penthouse has yet to hit the market, though a spokesperson for the building said it would be listed at $50 million. The three-bedroom, three-bathroom condo features three terraces and a private rooftop.

Douglas Elliman’s Lauren Muss and Michelle Griffith are heading sales at the project, which includes amenities such as a rooftop terrace, doormen, spa and fitness center. The building is also home to Casa Tua, a private members’ club and Italian restaurant.

The second most expensive home to find a buyer was an apartment at 140 Jane Street asking $24 million. The condo, which was sold off of floor plans, spans 4,600 square feet and has four bedrooms and four bathrooms. Unit 7N also features a conservatory and Juliet balcony.

Buyers have signed contracts for six of the property’s 14 units with asking prices averaging $5,400 per square foot. Earlier this month, a penthouse at the Aurora Capital Partners’ building crowned Olshan’s report when it entered contract with an asking price of $45 million.

Corcoran Sunshine and Corcoran’s Tara King-Brown is heading sales at the project, with planned amenities including a doorman, parking garage, fitness center and lap pool.

Of the 22 properties, 16 were condos, two were co-ops and four were townhouses.

The homes’ combined asking price was $221 million, which works out to an average price of $10 million and a median of $8 million. The typical home spent more than 630 days on the market and was discounted 10 percent from the original listing price.