realestate

Manhattan's luxury market gains momentum ahead of busy fall

Manhattan luxury market stays busy: 31 contracts over $4M signed last week, up from previous period.

M
anhattan’s luxury market is heating up this fall, with buyers signing contracts for 31 high‑end homes last week—up from 30 the week before—marking the first time since early June that 30 or more properties closed in consecutive weeks, according to Olshan Realty. The most expensive deal was a Central Park Tower condo on the 121st floor of 217 West 57th Street, which sold for $46 million, a 13 % discount from its original $55 million asking. The unit boasts five bedrooms, five bathrooms, 11‑foot floor‑to‑ceiling windows overlooking Central Park, and access to the building’s indoor and outdoor pools, fitness center, and 100‑floor club room. The supertall, marketed as the world’s tallest residential building, contains 178 units, two‑thirds of which are now sold. Sales are handled by Gary Barnett’s firm (Gabriele Tonini and Tim Rizzo) and Corcoran Sunshine Marketing Group (Kane Manera and Janet Wange).

    The second‑most expensive contract went to a 3,100‑sq‑ft condo at Zeckendorf’s 15 Central Park West, listed at $25 million. Unit 29A features three bedrooms, three bathrooms, a library, and a formal dining room; it last traded in 2008 for $10.5 million. The Robert A.M. Stern‑designed building, nicknamed “Limestone Jesus,” offers a fitness center, pool, private restaurant, and terrace, and was listed by Corcoran’s Deborah Kern.

    Of the 31 properties, 22 were condos, six co‑ops, two condops, and one townhouse. Their combined asking price was $344 million, yielding an average of $11.1 million and a median of $7.5 million. On average, homes lingered on the market for about 18 months before receiving a 10 % price reduction.

Manhattan luxury condos, demand rises before busy fall.