Rare opportunities to buy in some of Manhattan's most exclusive buildings

The Bellemont, #8FL (Brown Harris Stevens)

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Tuesday, Aug 29, 2023 By CityRealty Staff, CityRealty contributor

Last week, Manhattan’s top contract was a $34 million resale of a penthouse at One57. It was part of a larger trend – up the street, an $80 million resale at 220 Central Park South is Manhattan’s most expensive sale to date. Earlier this summer, a penthouse at celebrity favorite 150 Charles Street sold for $52 million in a resale, followed shortly by a $38.5 million resale in the same building. And further downtown at 443 Greenwich Street, Jennifer Gates bought a penthouse once owned by Formula One driver Lewis Hamilton for $51 million in January 2023. These high-priced resales come at a time when sponsor units in new developments are lingering on the market.

Between high construction costs and increasing scarcity, resale units could inevitably outnumber new development listings in the near future. However, a larger pool of availabilities is not the only reason luxury buyers might prefer resale listings over new construction. After several months or a few years, some of the inevitable kinks of new developments will have naturally ironed out – e.g. closing costs will be lower, construction is all but certain to be complete and correct, and potential buyers will have a better understanding of life in the building and neighborhood.

Moreover, some resales represent a rare opportunity to buy in a coveted building (see some of the addresses above). Kelly Mack, president of Corcoran Sunshine, told The Real Deal, “People have one shot when those come on the market, and you never know when they’re coming on the market again.” That is especially the case with boutique buildings in highly desirable neighborhoods with few opportunities for new construction.

A textbook example may be found at The Bellemont, a 12-unit Upper East Side boutique condominium that was home to a record-setting quadruplex penthouse and many units that closed above the asking price to rank among the top sales of the week. The eighth-floor unit has recently been listed for $22 million, or slightly above the $19.1 million it sold for earlier this year. As we wait to see how this resale will perform, we take a look at other high-priced resale condos throughout New York.

432 Park Avenue, #PH96
$130,000,000

Midtown East | Condominium | 6+ Bedrooms, 6+ Baths | 8,255 ft²

432 Park Avenue, #PH96 (OFFICIAL)

From the Listing: Never before lived in, the home is ready for immediate occupancy. On floor ninety-six of ninety-six, you are at the pinnacle of the Manhattan skyline, in a building designed to be the epitome of luxury. The full-floor apartment encompasses 8,255 square feet of the grandest living, with soaring twelve-and-a-half-foot ceilings throughout and twenty-four windows stretching ten feet by ten feet each, offering spectacular full-circle panoramic views in all directions. With each space completed to the highest levels of fit and finish, there are six bedrooms, a library, seven full baths, and two powder rooms. The penthouse's private elevator entry opens into a ninety-three-foot-long great room of monumental proportions fit for grand entertaining, with sunset exposures to the north, east, and south, and a wood-burning fireplace. See floor plan and full details here.

50 Central Park South at The Ritz-Carlton, #3031
$75,000,000

Midtown West | Condominium | 3 Bedrooms, 5 Baths | 10,875 ft²

50 Central Park South at The Ritz-Carlton, #3031 (Sothebys International Realty)

From the Listing: Comprising the 30th and 31st floors of 50 Central Park South, this exceptional condominium offers spectacular scale, soaringly high ceilings, mesmerizing outlooks, and an abundance of space and style. Sited perfectly, Central Park is seen from a superior position along its southern edge with a marvelous, bird's-eye perspective. Accessed by a private elevator landing, the grandly-scaled gallery opens into the magnificent living room, which is a breathtaking 44 feet in length and boasts dramatically tall 15-foot ceilings. This majestic room is lined with ten colossally-scaled arched windows, five of which overlook Central Park and the residence's largest terrace, which stretches almost 45 feet along the length of the facade. Adjacent, there is a wonderful square media room wrapping the northeast corner of the building and boasting an abundance of morning light and endless views of the Park. See floor plan and full details here.

The Plaza, #1607
$50,000,000

Midtown West | Condominium | 5 Bedrooms, 5.5 Baths | 4,500 ft²

The Plaza, #1607 (Brown Harris Stevens Residential Sales LLC)

From the Listing: Residence 1607 is nestled within the iconic Plaza Hotel building, a true symbol of elegance and luxury. This exceptional 5-bedroom, 5.5-bathroom condominium unit at the Private Residences offers an unparalleled living experience in the heart of New York City. Impeccably renovated with meticulous attention to detail, this duplex home showcases breathtaking views of Central Park through its 14 windows, spanning over 140 feet of frontage. The grandeur begins as you step into the 16th-floor entrance, where you are greeted by a chef's gourmet kitchen featuring top-of-the-line appliances, custom cabinetry, a pantry, and a charming eat-in banquette .Passing through the gracious foyer, you will discover the expansive corner living room, media room, and formal dining area, creating an exquisite space for effortless entertaining and gatherings. Descending to the lower level, a captivating gallery leads you to four additional bedrooms, each offering direct park views and private ensuite baths. The Plaza Residences provide residents with unrivaled hotel-style services and amenities, including the exclusive services of a concierge and butler, 24-hour in-room dining, and meticulous twice-daily housekeeping. See floor plan and full details here.

Would you like to tour any of these properties?

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Select which properties are of interest to you:

The Charles, 1355 First Avenue
150 East 78th Street
432 Park Avenue
Olympic Tower, 641 Fifth Avenue
The Bellemont, 1165 Madison Avenue
The Plaza, 1 Central Park South
Residences at the Ritz Carlton, 50 Central Park South
One57, 157 West 57th Street
220 Central Park South
55 West 17th Street
150 Charles Street
One Madison, 23 East 22nd Street
24 Leonard Street
The Four Seasons Private Residences, 30 Park Place
443 Greenwich Street

Or call us at (212) 755-5544

The Charles, #PH
$46,000,000 (-16.4%)

Lenox Hill | Condominium | 6+ Bedrooms, 6+ Baths | 12,000 ft²

The Charles, #PH (Douglas Elliman Real Estate)

From the Listing: This masterpiece is the impressive result of a five-year bespoke white-box fabrication that has never before been on the market. A townhouse in the sky, this world-class property features approximately 12,000 square feet of interior space expanding over four private floors, complimented by 1,500 square feet of terraces, which capture breathtaking 360-degree views. Conceptualized to provide the finest quality of design and artisanship, the layout of this property is notably perfect for both intimate experiences and grand scale entertainment. Highlights of this expansive layout include eight bedrooms, eight bathrooms, four powder rooms, a media room, professional chef's kitchen, formal dining room, two terraces, gas fireplace, and an internal elevator. The outdoor space has been curated to maximize entertainment and to appreciate the beauty and vibrancy of New York City. See floor plan and full details here.

The Four Seasons Private Residences, #PH81
$45,000,000

Tribeca | Condominium | 4 Bedrooms, 4.5 Baths | 5,443 ft²

The Four Seasons Private Residences, #PH81 (Corcoran Group)

From the Listing: Designed by Robert A.M. Stern, PH81 is a unique, single floor layout in the most prestigious building in lower Manhattan; a home that represents the pinnacle of urban living with sweeping exposures in all directions. A private full-floor penthouse with symmetrically flanking sunrise and sunset terraces, PH81 boasts dramatic 360-degree views of the Manhattan skyline, New York Harbor, Hudson and East Rivers, and beyond. Security-enabled elevator access staffed by Four Seasons personnel elegantly and discreetly deliver you to your exclusive landing, nearly 900 feet above the city, then to an entrance gallery where you first experience the breathtaking views. Enhanced by ceiling heights of roughly 12 feet and rift-cut quarter-sawn oak floors throughout the home, this exquisitely designed residence is equally impressive for its interiors as exemplified by the expansive living room on its western wing. With floor-to-ceiling windows, the vast room allows for multiple seating areas and is replete with a handsome 19th Century 'Herculean' Carrera marble mantle surrounding the gas fireplace as well as custom lighting by Bouyea and Associates. The west-facing "sunset terrace" runs nearly the full length of this well-proportioned room, optimizing Hudson River and western views. See floor plan and full details here.

One Madison, #PH
$42,000,000 (-32.3%)

Flatiron/Union Square | Condominium | 5 Bedrooms, 5.5 Baths | 7,000 ft²

One Madison, #PH (Corcoran Group)

From the Listing: Crowning One Madison from the 58th to the 60th floors, the Triplex Penthouse boasts nearly 7,000 square feet of open interior space with dramatic full-height windows that offer breathtaking 360-degree skyline and river views. The double-height Great Room with over 20-foot ceilings and a 586-square-foot wraparound terrace is the centerpiece of the residence. A formal dining room offers the ideal setting for gracious entertaining. The gourmet eat-in-kitchen is beautifully appointed with professional appliances. A sweeping curved glass staircase leads to the bedroom levels which consist of a gracious primary suite with dressing room, marble bath with free-standing soaking tub and rain shower in addition to four bedrooms with ensuite baths and a staff room. A private internal elevator serves all three levels. See floor plan and full details here.

24 Leonard Street, #PH9
$38,000,000

Tribeca | Condominium | 6+ Bedrooms, 6+ Baths | 7,300 ft²

24 Leonard Street, #PH9 (Bespoke Real Estate LLC)

From the Listing: 24 Leonard Street #PH9 presents a luxurious 100' wide triplex penthouse in the heart of Tribeca. Enjoy the luxury of 3 expansive balconies and a private rooftop terrace offering awe-inspiring views of the city. Immerse yourself in a world of understated luxury and impeccable design, where spacious, light-filled rooms are connected by white oak herringbone floors and filled with custom fixtures and unique details that create a sense of effortless refinement. Floor-to-ceiling windows, custom wallpaper, millwork, and stylish marble accents provide the perfect finishing touches to this one-of-a-kind urban oasis. A formal dining room and living area seamlessly connects to the chef's kitchen with high-end appliances, custom cabinetry, and a chic breakfast nook that leads to the family room. The lower level is highlighted by a magnificent primary suite and four additional en-suite bedrooms, all featuring custom wallpaper and captivating city views. See floor plan and full details here.

150 East 78th Street, #PH
$37,500,000

Lenox Hill | Condominium | 6+ Bedrooms, 6+ Baths | 7,288 ft²

150 East 78th Street, #PH (Corcoran Group)

From the Listing: Welcome to the epitome of luxury living in Manhattan, this trophy penthouse is located on the top two floors of the brand-new Robert A.M. Stern condominium, 150 East 78th Street. The three terraces, totaling 1,462 square feet, invite outdoor living and entertaining, each equipped with an outdoor grill for culinary indulgence against the backdrop of breathtaking views. There are six bedrooms, seven full bathrooms and two powder rooms. The interiors were beautifully designed by AD100 Hall of Fame designer Robert Couturier who also collaborated with master kitchen designer, Christopher Peacock on the kitchen. There are ceilings up to 10'7", multi-zone central air conditioning, two working fireplaces, radiant heat in the bathrooms, Lefroy Brooks fixtures, and Chevron and straight plank flooring. The living spaces within this penthouse are thoughtfully designed to cater to every need. See floor plan and full details here.

55 West 17th Street, #PH
$35,000,000

Chelsea | Condominium | 6+ Bedrooms, 6+ Baths | 6,659 ft²

55 West 17th Street, #PH (Compass)

From the Listing: Unprecedented, custom-built, and recently finished, this architecturally significant Penthouse Oasis features panoramic, protected views, a private rooftop featuring a full-sized pool and hot tub, and private parking in the basement directly accessed via the building elevators. The New York firm DHD ARCHITECTURE AND INTERIOR DESIGN designed this trophy apartment that occupies the entire 18th and 19th floors of the building along with most of the 17th floor, all connected via a striking spiral stairway, its solid sides coated in the same Venetian Plaster that covers the apartment walls. A glamorous custom Lindsey Adelman chandelier with delicate brass chains and a gold foil lining cascades down the staircase's center. The elevator doors open on the middle level to reveal an expansive living and dining space with an adjacent kitchen with barrel-vaulted ceilings over the living and dining areas. Immediately you are struck by the breathtaking southern light and humanly scaled views all the way down to the Freedom Tower and beyond. See floor plan and full details here.

Olympic Tower, #PH45
$35,000,000

Midtown East | Condominium | 6+ Bedrooms, 6+ Baths | 9,450 ft²

Olympic Tower, #PH45 (Serhant LLC)

From the Listing: A rare opportunity awaits discerning buyers on the top two floors of the famed Olympic Tower in the iconic heart of Manhattan. Over 9,000 square feet of space is spread across two expansive floors offering sweeping river-to-river city views of the Empire State Building, Rockefeller Center, the Chrysler Building, and St. Patrick's Cathedral. Grand in appearance and feel, the home features soaring 14-to-16-foot ceilings, wraparound floor-to-ceiling windows, a pair of regal spiral staircases, two interior elevators, and multiple wood-burning fireplaces. It is currently configured as an 8-bedroom, 8-full bathroom, 2-powder room duplex with all bedrooms on the 50th floor. There are two primary suites with spa features like a whirlpool tub and sauna, and each of the remaining bedrooms has a dedicated full bathroom. See floor plan and full details here.

443 Greenwich Street, #PHE
$32,500,000

Tribeca | Condominium | 4 Bedrooms, 4.5 Baths | 5,000 ft²

443 Greenwich Street, #PHE (Compass)

From the Listing: Welcome to Penthouse E, one of just eight penthouse-level residences atop 443 Greenwich.It recently underwent a full remodel by E.B.Min, of Min Design Co. in San Francisco, earning her team a prestigious SF Design Week Award. The spacious layout boasts 4,968 square feet of living space spread over the sixth and seventh floors, with a 1,254-square-foot private rooftop terrace. There are four bedrooms, four-and-a-half bathrooms, a media room, kids' space and a deeded indoor parking space with electric vehicle charging. See floor plan and full details here.

In this article:

432 Park Avenue, #PH96
$130,000,000

50 Central Park South at The Ritz-Carlton, #3031
$75,000,000

The Plaza, #1607
$50,000,000

Select which properties are of interest to you:

The Charles, #PH
$46,000,000 (-16.4%)

The Four Seasons Private Residences, #PH81
$45,000,000

One Madison, #PH
$42,000,000 (-32.3%)

24 Leonard Street, #PH9
$38,000,000

150 East 78th Street, #PH
$37,500,000

55 West 17th Street, #PH
$35,000,000

Olympic Tower, #PH45
$35,000,000

443 Greenwich Street, #PHE
$32,500,000

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Rare opportunities to buy in some of Manhattan's most exclusive buildings

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