The number of Manhattan residential contracts signed from February 17-23, 2025 represented a nearly 30% week-over-week dip. The week opened with the Presidents' Day federal holiday that abbreviated the business week and likely explains the downturn, but ended on a particularly bad day for the stock market. However, New York real estate is widely considered a safe investment, and several high-priced contracts in luxury buildings across Manhattan were signed during this time.
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Sutton Tower, home to two of the top ten contracts (Corcoran Group)
A total of $24,200,000 across two contracts was signed at Sutton Tower, the tallest building in its Beekman/Sutton Place neighborhood. The full-floor Penthouse #48 had the week's second-highest ask at an even $16,000,000. Several stories up, Residence #66A's asking price of $8,200,000 was good enough for the seventh-highest of the week.
While both Sutton Tower units were among the highest-priced contracts of the week, their asking prices show reductions from the initial offering plan. Penthouse #48 was listed for $19.95 million when the building started marketing in 2022, and Residence #66A was initially listed for $9.85 million. They come at a time when the building is nearly one-third sold and open for immediate occupancy.
While both Sutton Tower units were among the highest-priced contracts of the week, their asking prices show reductions from the initial offering plan. Penthouse #48 was listed for $19.95 million when the building started marketing in 2022, and Residence #66A was initially listed for $9.85 million. They come at a time when the building is nearly one-third sold and open for immediate occupancy.
50 West 66th Street, February 2025 (CityRealty)
Further uptown, a total of $19,475,000 across two deals was signed at 50 West 66th Street. The five-bedroom Residence #5D had the week's third-highest contract with an asking price of $11,475,000. On the same floor, Residence #5C was asking $8,000,000 in the eighth-highest contract of the week.
Neither buyer was identified, nor is it clear whether these were two separate buyers or one looking to combine the two fifth-floor units into one massive apartment. The deals were signed shortly after the first closings were recorded in the building.
Neither buyer was identified, nor is it clear whether these were two separate buyers or one looking to combine the two fifth-floor units into one massive apartment. The deals were signed shortly after the first closings were recorded in the building.
Indeed, it was a good week for new development condos on the Upper West Side. Residence #9A at 200 Amsterdam Avenue, the building 50 West 66th Street dethroned at the neighborhood's tallest, had the fifth-highest contract of the week with an $8,350,000 asking price. A stone's throw away at 212 West 72nd Street, a total of $6,910,000 across two contracts was signed. And at the recently converted 720 West End Avenue, a total of $6,005,000 was signed across three contracts.
345meatpacking, #PH (Serhant)
But for all the excitement of new uptown development, the Meatpacking District was not to be overlooked: The penthouse at 345meatpacking entered contract with a $22,000,000 asking price, the highest of the week. The unidentified seller paid $7,139,439 for it in December 2013, and stands to make more than three times that if the duplex penthouse with a roof terrace goes for the ask.
One block east at Village Green West, Residence #T3 had the week's ninth-highest asking price of $6,795,000. The full-floor apartment has three bedrooms, three full baths plus a powder room, three private terrace, and interiors by renowned designer Thom Filicia. If this unit goes for the asking price, the unidentified seller would break even, having bought it for $6,559,313 in June 2016.
While the Meatpacking District is one of Downtown's trendiest neighborhoods, it has not seen abundant new residential development in recent years. But earlier this winter, the NYCEDC issued a request for proposals for Gansevoort Square, the redevelopment of the former site of the Gansevoort Meat Market. The RFP calls for up to 600 units of mixed-income housing, 50% of which should be affordable, and ground-floor retail space.
One block east at Village Green West, Residence #T3 had the week's ninth-highest asking price of $6,795,000. The full-floor apartment has three bedrooms, three full baths plus a powder room, three private terrace, and interiors by renowned designer Thom Filicia. If this unit goes for the asking price, the unidentified seller would break even, having bought it for $6,559,313 in June 2016.
While the Meatpacking District is one of Downtown's trendiest neighborhoods, it has not seen abundant new residential development in recent years. But earlier this winter, the NYCEDC issued a request for proposals for Gansevoort Square, the redevelopment of the former site of the Gansevoort Meat Market. The RFP calls for up to 600 units of mixed-income housing, 50% of which should be affordable, and ground-floor retail space.
Rendering of Gansevoort Square (NYCEDC)
133 East 95th Street, #TH (Brown Harris Stevens)
In other news, the Upper East Side's top contract was also the second-highest townhouse contract of the week: 133 East 95th Street entered contract with a $5,250,000 ask. The house is also known as the James P. Ripley House, but local non-profit Carnegie Hill Neighbors notes that it was once owned by Vincent and Eugenia Sardi, founders of the Theater District mainstay. The house's contract was signed about four months after it was listed in October 2024.
Also of note, the first contract was signed at the recently launched One Park Row. The two-bedroom, two-bath Residence #5C was asking $2,500,000. The heart of the home is a living room with a massive curved window, and interiors feature design by Paris Forino, 7" wide plank white oak floors, a kitchen with eat-in island and fully integrated Gaggenau and Bosch appliances, and a king-sized primary bedroom with walk-in closet and luxurious en suite bath. The unidentified buyer will enjoy access to amenities like a fitness center, a lounge with dining room and catering kitchen, a dog run, and a landscaped roof terrace.
One Park Row, #5C
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520 Fifth Avenue, #66A (Corcoran Group)
From the Listing: This stunning half-floor three-bedroom residence overlooks Fifth Avenue and boasts iconic Manhattan skyline views to the north, south and east experienced through 8 arched 10′ by 10′ windows. The gracious floorplan features an entry foyer and a corner living /dining room with an open chef’s kitchen. The primary bedroom suite boasts a stunning five-fixture bathroom with a freestanding cast iron soaking tub and expansive walk-in closet, secondary en-suite bedrooms, a powder room, and washer/dryer. See full details here.
520 Fifth Avenue has 2 public availabilities from $6,450,000.
#9. Village Green West, #T3
Last Ask: $6,795,000
Chelsea | Condominium | 3 Bedrooms, 3.5 Baths | 2,713 ft2
Village Green West, #T3 (Compass)
#8. 50 West 66th Street, #5C
Last Ask: $8,000,000
Central Park West | Condominium | 4 Bedrooms, 4.5 Baths | 3,223 ft2
50 West 66th Street, #5C (Douglas Elliman Real Estate)
#7. Sutton Tower, #66A
Last Ask: $8,200,000
Beekman/Sutton Place | Condominium | 3 Bedrooms, 3.5 Baths | 2,295 ft2
Sutton Tower, #66A (Corcoran Sunshine Marketing Group)
#6. 343 West 19th Street, #TH
Last Ask: $8,250,000
Chelsea | Townhouse | 4 Bedrooms, 3.5 Baths | 4,224 ft2
343 West 19th Street, #TH (Leslie J Garfield & Co Inc)
#5. 200 Amsterdam, #9A
Last Ask: $8,350,000
Lincoln Center | Condominium | 5 Bedrooms, 5.5 Baths | 3,455 ft2
200 Amsterdam, #9A (Serhant)
#4. 200 Chambers Street, #24CDE
Last Ask: $8,995,000
Tribeca | Condominium | 5 Bedrooms, 4.5 Baths | 4,650 ft2
200 Chambers Street, #24CDE (Douglas Elliman Real Estate)
#3. 50 West 66th Street, #5D
Last Ask: $11,475,000
Central Park West | Condominium | 5 Bedrooms, 5.5 Baths | 3,889 ft2
50 West 66th Street, #5D (Corcoran Group)
#2. Sutton Tower, #48
Last Ask: $16,000,000
Beekman/Sutton Place | Condominium | 4 Bedrooms, 3.5 Baths | 4,765 ft2
Sutton Tower, #48 (Corcoran Sunshine Marketing Group)
#1. 345 Meatpacking, #PH
Last Ask: $22,000,000
Chelsea | Condominium | 3 Bedrooms, 2.5 Baths | 3,734 ft2
345 Meatpacking, #PH (Serhant)
Would you like to tour any of these properties?
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