LUXURY MARKET REPORT
April 13-19, 2015

Report on Contracts Signed
NYC Residential Properties
$4 Million and Above

32 Contracts Signed

April 15 has come and gone, and the heavy hitters still had enough after-tax cash to keep the Manhattan luxury real estate market humming a happy tune: 32 contracts were signed last week at $4 million and above, as condos out sold co-ops 22 to 7, with 3 townhouses in the mix.

The No.1 contract was the Penthouse at 737 Park Avenue, asking $39.5 million. This duplex condo has 5,772 square feet with 1 fireplace and 2 terraces that total 6,028 square feet. It was a sold by the sponsor, Macklowe Properties, not as a fully-finished property but as an empty, newly-painted-white shell, for which the buyer is responsible for the renovation. The developer’s proposed layout can accommodate 4 bedrooms, 1 maid’s room, and 6.5 baths. 737 Park Avenue was a rental building that was recently transformed into a condo.

The No. 2 contract was 5C at 145 Central Park West, asking $18.5 million, selling after 1 year on the market without lowering the price. This 5 bedroom, 6.5 bathroom co-op is in the San Remo, known for its celebrity owners and its distinctive Italian Renaissance-inspired architecture, designed by Emery Roth in 1929. This 12-room corner unit has a 32-foot living room, a library, and a 27-foot formal dining room—all facing Central Park.

NYC Luxury Tracking Scoreboard: Sales $4 Million and Above
April 13-19, 2015

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