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For the fourth quarter of 2020, the average sale price of a Manhattan apartment fell 2% when compared to Q4 2019. The average sale price for all residential units, excluding townhouses came in at $1.907 million, down from $1.954 million in Q4 2019. The average price of a condo was $2.69 million (-7%), and the average price of a co-op was $1.16 million (-5%).

The total dollar amount of residential sales in Manhattan increased 23% over the third quarter but remained substantially down (-27%) compared to Q4 2019. There were 877 condo sales, 909 co-op sales, and 22 condop sales aggregating to $3.45 billion in deals across 1,808 transactions. The total number of deals was down 29% compared to 4Q 2019 but up 6% from Q3 2020.

The condo building that accrued the most sales both by count and total dollar amount was NoHo's 40 Bleecker Street which saw $115 million in deals over 27 closings. The next two top closers were Grid Group's boutique Chelsea condo 124 West 16th Street and Related-Oxford's 35 Hudson Yards.

Trophy Downtown condos made a strong showing in Q4 2020, claiming six of the ten priciest deals, with the remaining coming from buildings on Billionaires' Row. The most expensive sale was registered at 70 Vestry Street, where a 12th-floor combination unit previously owned by Tom Brady and Gisele Bündchen sold for $40,363,875. An insider tells the New York Post that a local financier picked up the spread, Brady/ Bündchen will maintain a smaller unit they own in the building as they build out a new home in Florida (Brady signed with the Tampa Bay Buccaneers last year).
Trailing just behind, at an even $40 million, is a 4-bedroom, 3.5-bath "Villa" unit in 220 Central Park South. Remarkably, the sale is the tower's tenth deal above $10,000/ft2, by far making the Robert A.M. Stern-designed condo-tower the most successful in the city, if not the world. Rounding out the top three is Penthouse 11B at 90 Morton Street. Perched above the West Village with Hudson River views, the 5-bed/4.5-bath home closed in early December for $24,802,505 and puts the building's overall average price per square foot north of $3,000. The Brack Capital-developed building has two other penthouses on the market priced at $18M and $17.7M apiece.

Top 10 Best-Selling Residential Buildings of Q4 2020
Greenwich West (Cape Advisors)

(Halstead Property Group)

70 Vestry Street (Tim Fisher for Related Companies)

(Brack Capital)

(Rendering credit: DBOX)

(Credit: DBOX for Vornado)

(Credit: Corcoran/Hines)

(Credit: Dave Burk / SOM)

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