Residential Real Estate
New York

February wrapped Manhattan luxury market’s record-breaking start to 2022

First two months pulled in 244 contracts at $4M and above

1165 Madison Avenue (Google Maps, iStock)

1165 Madison Avenue (Google Maps, iStock)

After kicking off the year with a bang, Manhattan’s luxury market remained ablaze — even reaching another record as February drew to a close.

In the first two months of 2022, 244 contracts were signed at $4 million and above, according to Olshan Realty’s weekly report. That’s the strongest start of any year since the report began tracking in 2006.

Thirty-four contracts were signed between Feb. 21 and 27, the priciest of which was PHB at 1165 Madison Avenue, asking $24.95 million.

The full-floor penthouse has 4,784 square feet, including five bedrooms and five and a half bathrooms. It also has two terraces totaling 381 square feet, along with a 42-foot living room with 13-foot ceilings and a fireplace, which opens onto a 24-foot terrace. An adjoining library has an 11-foot terrace.

The unit is in a new 12-unit, 13-story condo called The Bellemont. Amenities in the Robert A.M. Stern-designed building include a fitness center, squash court and roof terrace. Just one unit is still up for grabs after marketing started in fall 2021 with asking prices averaging over $3,900 per square foot.

Read more

The second priciest contract was 6D at 15 Central Park West, asking $20.5 million. The figure is down from the $23 million it was asking when it was listed in March 2019.

The seller purchased the unit from the sponsor in December 2007 for about $10.8 million. It spans 3,332 square feet across four bedrooms and four and a half bathrooms. In addition to a 400-square-foot living room, three of the unit’s four bedrooms span 54 feet overlooking Central Park.

Stern also designed 15 Central Park West. The building’s amenities include a 14,000-square-foot fitness center with a 75-foot pool, a resident-only restaurant, outdoor terrace and a landscaped motor court and garage.

Of the contracts signed last week, including 24 condos and six co-ops. Four townhouses were also in the mix.

Asking prices totaled $273 million, with a median of $6.645 million. Homes had an average discount from original to last asking price of 35 percent and properties spent an average of 508 days on the market.

Tags
Residential Real Estate
New York

February wrapped Manhattan luxury market’s record-breaking start to 2022

First two months pulled in 244 contracts at $4M and above

1165 Madison Avenue (Google Maps, iStock)

1165 Madison Avenue (Google Maps, iStock)

After kicking off the year with a bang, Manhattan’s luxury market remained ablaze — even reaching another record as February drew to a close.

In the first two months of 2022, 244 contracts were signed at $4 million and above, according to Olshan Realty’s weekly report. That’s the strongest start of any year since the report began tracking in 2006.

Thirty-four contracts were signed between Feb. 21 and 27, the priciest of which was PHB at 1165 Madison Avenue, asking $24.95 million.

The full-floor penthouse has 4,784 square feet, including five bedrooms and five and a half bathrooms. It also has two terraces totaling 381 square feet, along with a 42-foot living room with 13-foot ceilings and a fireplace, which opens onto a 24-foot terrace. An adjoining library has an 11-foot terrace.

The unit is in a new 12-unit, 13-story condo called The Bellemont. Amenities in the Robert A.M. Stern-designed building include a fitness center, squash court and roof terrace. Just one unit is still up for grabs after marketing started in fall 2021 with asking prices averaging over $3,900 per square foot.

Read more

The second priciest contract was 6D at 15 Central Park West, asking $20.5 million. The figure is down from the $23 million it was asking when it was listed in March 2019.

The seller purchased the unit from the sponsor in December 2007 for about $10.8 million. It spans 3,332 square feet across four bedrooms and four and a half bathrooms. In addition to a 400-square-foot living room, three of the unit’s four bedrooms span 54 feet overlooking Central Park.

Stern also designed 15 Central Park West. The building’s amenities include a 14,000-square-foot fitness center with a 75-foot pool, a resident-only restaurant, outdoor terrace and a landscaped motor court and garage.

Of the contracts signed last week, including 24 condos and six co-ops. Four townhouses were also in the mix.

Asking prices totaled $273 million, with a median of $6.645 million. Homes had an average discount from original to last asking price of 35 percent and properties spent an average of 508 days on the market.

Tags