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The Bellemont, #8FL (Brown Harris Stevens) The Bellemont, #8FL (Brown Harris Stevens)
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 (OFFICIAL)

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

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

The Charles, #PH (Douglas Elliman Real Estate)

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

One Madison, #PH (Corcoran Group)

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

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

55 West 17th Street, #PH (Compass)

Olympic Tower, #PH45 (Serhant LLC)

443 Greenwich Street, #PHE (Compass)
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