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Fifth Avenue co-op caps Manhattan’s luxury contracts

Buyers signed contracts for 37 homes asking $4M+ ahead of holiday week

Fifth Avenue Co-op Caps Manhattan's Luxury Contracts
Elliman’s Michelle Larsen with 944 Fifth Ave and Extell’s Gary Barnett with Central Park Tower (Douglas Elliman, Google Maps, Extell)

An Upper East Side co-op — known for its renowned list of buyers like journalist Barbara Walters and Disney president Michael Ovitz — snagged the priciest contract signed in Manhattan last week.

The 14th floor of 944 Fifth Avenue last asked just under $29 million, down from $35 million when it hit the market in May, according to Olshan Realty’s weekly report. The pending deal is the most expensive of 37 inked in the borough for homes asking $4 million or more between Dec. 16 and Dec. 22, which was six more than the previous period.

The full-floor apartment spans roughly 5,000 square feet and has four bedrooms and six bathrooms. It also has views of Central Park, a private landing and wood-burning fireplaces. 

Amenities in the building, designed in 1925 and converted to a co-op in 1953, include a gym and resident manager. The board allows buyers to finance half of their purchase with a mortgage and to use their apartments as pieds-a-terre. 

Douglas Elliman’s Michelle Larsen had the listing. 

Earlier this year, an entity linked to Ovitz and his longtime partner, Jimmy Choo co-founder Tamara Mellon, paid $15 million for an apartment at the building that previously belonged to Barbara Walters. Walters lived in the co-op for 30 years before she died in December 2022. 

Art dealer Robert Mnuchin also sold an apartment in the co-op two years prior. RFR Realty principal Michael Fuchs paid $18 million for the full-floor unit after Mnuchin lowered the asking price from $25 million. 

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The second priciest home to land a signed contract was a unit at Extell Development’s Central Park Tower, with an asking price of $16 million. The condo spans 3,200 square feet and has three bedrooms and three bathrooms. 

Unit 60W at 217 West 57th Street, which initially asked roughly $19 million when sales launched in 2018, also features a formal foyer, floor-to-ceiling windows and a walk-in closet. 

Amenities at the Billionaires’ Row tower, billed as the tallest residential building in the world, include indoor and outdoor pools, a fitness center and cigar lounge. 

The supertall snagged one of the most expensive deals this year when a penthouse closed for $117 million in June. 

Of the 37 properties, 22 were condos, 11 were co-ops and four were townhouses.

The homes’ combined asking price was $271 million, which works out to an average price of $7.3 million and a median of $5.5 million. The typical home spent more than 660 days on the market and was discounted 10 percent from the original listing price.

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