Seventeen contracts were signed last week at $4 million and above, an anticipated mediocre performance due in part to the Jewish High Holidays. I say “in part” because the 3rd-quarter trend in the Manhattan luxury real estate market was decidedly weaker than in previous years. In fact, it was the weakest third quarter since 2012, and 11% below last year’s results for both contracts signed (206) and total volume ($1,623,211,470).
For the third time this year, a unit at the new condo 252 East 57th Street has taken the No.1 spot: 64A, asking $13.7 million. This 4,600-square-foot apartment has 5 bedrooms and 6.5 bathrooms, a 38-foot living room with a working fireplace, a balcony, and spectacular views of Central Park and the East River. It also has 12.5-foot-high ceilings. The building was designed by Skidmore, Owings & Merrill, and amenities include a concierge, garage, fitness center, a children’s playroom, a 75-foot swimming pool, a library, billiards and screening rooms, a catering kitchen, dining room, bicycle and storage rooms, and furnished guest suites. There is also a play space and grooming station for your dog.
The No. 2 contract was 10G at 10 Gracie Square, asking $10 million, reduced from $11.5 million when it went on the market in June 2016. This corner duplex co-op has 5 bedrooms, 4 bathrooms, and spectacular East River views from the living room, dining room, master suite, and 2nd bedroom. The unit has 11-foot-high ceilings and 2 working fireplaces. Its renovation was completed in 2005.
East | West | Midtown | Downtown | Asking $/sq.ft. | Totals | |
---|---|---|---|---|---|---|
Co-ops | 2 | 0 | 0 | 0 | Avg.Ask: $9,725,000 |
2 |
Condos | 1 | 3 | 2 | 9 | Avg.Ask: $6,273,333 Avg.$/sq.ft.: $2,502/sq.ft. Avg.Size: 2,507 sq.ft. |
15 |
Condops * | 0 | 0 | 0 | 0 | Avg.Ask: Avg.$/sq.ft.: Avg.Size: |
0 |
Townhouses | 0 | 0 | 0 | 0 | Avg.Ask: Avg.$/sq.ft.: . Avg.Size: |
0 |
TOTALS | 3 | 3 | 2 | 9 | 17 |
CLICK HERE TO VIEW 17 CONTRACTS SIGNED ON APARTMENTS
CLICK HERE TO VIEW 0 CONTRACTS SIGNED ON TOWNHOUSES
Donna Olshan President dso@olshan.com |
Emily Chen Private Wealth Real Estate Services Chief of Research ecc@olshan.com |