Manhattan Sales: Billionaires' Row reigns supreme as Aman New York Residences closes $93M in sales

By CityRealty Staff | From Future New York Tuesday, April 2, 2024

Aman New York

Manhattan Sales:

For the week ending March 29, 2024, $537,218,105 worth of transactions across 243 condo, condop, and cooperative deals were recorded
105 condo sales came to an aggregate price of $337,765,476
16 condop sales came to an aggregate price of $30,354,921
122 co-op sales came to an aggregate price of $169,097,708

As the first quarter of 2024 draws to a close, CityRealty data has shown prices softening throughout Manhattan between a combination of still-high interest rates, quality of life issues in New York, and election year anxiety. Even the city's super-prime market is not immune: While high-priced sales in the city's most luxurious buildings continue to be recorded, a closer look at the offering plans show that these jaw-dropping prices are not as spectacular as they might have been.

As March 2024 wound down, a whopping $92,973,677 in sales was recorded at Aman New York Residences, the condo component of the Crown Building turned luxury hotel on Fifth Avenue that accounted for the top three sales of the week ending March 29, 2024. Leading the charge was Residence #23A, which came in at $50,604,750. According to the building's offering plan, the 6,296-square-foot home is located three floors below the penthouse and offers four bedrooms, five full baths, a powder room, and a home theater.

Master bath at a residence at The Aman New York

While Residence #23A came in 22.8% below the $65,586,000 price listed in the initial offering plan, it nevertheless had the top sale by a comfortable margin. The second-highest took place several stories down in Residence #16C, a three-bedroom condo with a private terrace that came in at $21,700,000, or $8.3 million below the $30 million price listed in the offering plan. It was trailed more closely by the two-bedroom Residence #18B, which closed for $20,668,927, approximately $3.6 million below the $24.3 million price in the initial offering plan.

All buyers conducted the transactions through LLCs, though Crain's New York Business identified the buyer of #23A as a trust linked to high-ranking executives at Meta. They will enjoy access to such amenities as a double-height sky lobby with piano bar, a cigar lounge with adjoining terrace, a wine library, two restaurants, and the services of the three-story, 25,000-square-foot Aman Spa.

With this round of closings, sales on 19 of the 22 apartments at Aman New York Residences have been recorded. Conspicuously absent is the penthouse, which entered contract with a $180,000,000 asking price shortly after sales launched in 2018.

111 West 57th Street (Corcoran Group)

Aman New York Residences' address on the corner of Fifth Avenue and 57th Street puts it at the eastern end of Billionaires' Row, but the supertalls that brought this stretch to prominence were not to be overlooked: The sale of the full-floor, three-bedroom Tower Residence #32 at 111 West 57th Street, the city's second-tallest residential building and most slender tower, was recorded for $15,370,000. While good enough for the fifth-highest sale of the week, this nevertheless represents a 13.4% reduction from the $17,750,000 asking price when it entered contract in November 2023. Indeed, sponsor units throughout the building have experienced price reductions in spring 2024.

The top sale outside Billionaires' Row was the penthouse at Tribeca boutique condominium 471 Washington Street, which sold for $19,500,000 in the week's fourth-highest sale overall. Both parties conducted the transaction through trusts, but public records indicate that the seller has made a profit, having bought it for $17,625,000 in fall 2021. It has five bedrooms, six full baths, 7,137 interior square feet, and a total of 4,393 square feet of exterior space spread across seven terraces, including a rooftop terrace with outdoor pool.

#5. 111 West 57th Street, #32

Billionaires' Row/Midtown West | Condominium | 3 beds, 3.5 baths | 4,492 ft²
Closing Price: $15,370,000 ($3,422 / ft²) | Last Ask: $17,750,000 ($3,951 / ft²) (-13.4%)

111 West 57th Street (David Sundberg)

111 West 57th Street, #32 (Corcoran Group)

From the Listing:
Direct elevator entry leads into a sprawling full-floor, three-bedroom, three-and-a-half-bathroom Tower Residence that encompasses 4,492 square feet of space on the 32nd floor of 111 West 57th Street. The formal entry gallery is finished with white macauba stone floors and a dramatic north to south view gallery which leads into the expansive great room highlighted by intricately patterned floors in custom smoke-gray solid oak, 14-foot ceilings and floor-to-ceiling windows through which to enjoy the views of Central Park .The expansive corner south-facing kitchen features a breakfast area, custom cabinetry in a light hand-rubbed finish, stepped crystallo white quartzite countertops and backsplash, and a full suite of Gaggenau appliances.

8 Available Listings for Sale from $6,895,000
1 Available Listing for Rent for $41,900/month

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#4. 471 Washington Street, #PH

Tribeca | Condominium | 3 beds, 3.5 baths | 4,209 ft²
Closing Price: $19,500,000 ($4,633 / ft²)

471 Washington Street

471 Washington, PH from Andrew Azoulay.

#3. Aman New York Residences, 730 Fifth Avenue, #18B

Billionaires' Row/Midtown West | Condominium | 2 beds, 2.5 baths | 3,416 ft²
Closing Price: $20,668,927 ($6,051 / ft²)

#2. Aman New York Residences, 730 Fifth Avenue, #16C

Billionaires' Row/Midtown West | Condominium | 3 beds, 4.5 baths | 4,388 ft²
Closing Price: $21,700,000 ($4,945 / ft²)

#1. Aman New York Residences, 730 Fifth Avenue, #23A

Billionaires' Row/Midtown West | Condominium | 4 beds, 5.5 baths | 6,296 ft²
Closing Price: $50,604,750 ($8,038 / ft²)

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