126 West 16th Street via CityRealty
For the first week of December 2020, 157 market-rate condo, co-op, and condop apartment sales were recorded throughout Manhattan, aggregating to a total of $258.9 million in deals. The 74 condo sales blended to a median of $1,655,000 or $1,409 per square foot. The 79 co-op deals came to a median of $699,000.
Meanwhile, from November 30 to December 6, 21 luxury condos were signed at $4 million and above with an aggregate price of $175,975,490. Olshan Realty's market report notes that between low interest rates, an improving stock market, and a coronavirus vaccine on the horizon, people are feeling eager to buy and optimistic about New York's recovery. However, the effects of the pandemic will not soon be forgotten: The average size of a condo during the last 14 weeks is 5.5% larger than in the same 14-week period of 2019.
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Last week, one of those large condos was a three-bedroom at One57 measuring 4,483 square feet. The seller took quite a loss on it, having originally paid $34 million for it in October 2014, but the asking price of $22,500,000 was good enough for the week's top contract. The second-highest contract was a full-floor unit at The Benson asking $14,150,000.
126 West 16th Street model unit (via Corcoran)
Model bedroom
View north over Chelsea
In November 2020, $1.208 billion dollars worth of apartment sales were recorded in Manhattan across 701 units. This total is 22% less year-over-year than the $1.549 billion recorded in November 2019 across 884 deals. A silver lining may be that the island's residential sales market is beginning to approach its historic volume with each passing month. For November, the overall average closing price is down just 2% year-over-year. After selling more than a billion dollars worth of condos so far this year, 220 Central Park South was dethroned by a new church-cantilevering condominium at 124 West 16th Street in Chelsea where eight of its 16 units closed for an aggregate north of $45 million. The building has two homes on the market priced from $3.4 million. See the top 20 best-selling buildings of the month below.
Top Buildings
126 West 16th Street via CityRealty
220 Central Park South via Vornado Realty Trust
565 Broome Soho via Douglas Elliman
53W53 via The Corcoran Group
Greenwich West via The Corcoran Group
Top Sales
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1. 4 Sutton Place, 465 East 57th Street, #10/11 – $8,268,075 ($1,503 / ft2)
Beekman/Sutton Place | Co-op | 5 beds, 6.5 baths | 5,400 ft2
Beekman/Sutton Place | Co-op | 5 beds, 6.5 baths | 5,400 ft2
4 Sutton Place via Warburg Realty
From the listing:
This sun-flooded apartment has undergone a complete and masterful renovation by architect Stephen Wang and interior designer Charles Krewson and is classic in design. It occupies the 10th and 11th floors of the building with all rooms facing the East River. Enter the apartment through your own private vestibule into a beautifully designed gallery. The 10th floor features a magnificent living room with a wood-burning fireplace, three Juliet balconies, gorgeous moldings and high ceilings. There is a wood paneled library, a beautiful formal dining room, an enormous state-of-the art chefs kitchen with Bilotta cabinetry, a powder room, and a maid's room with a separate bathroom.
This sun-flooded apartment has undergone a complete and masterful renovation by architect Stephen Wang and interior designer Charles Krewson and is classic in design. It occupies the 10th and 11th floors of the building with all rooms facing the East River. Enter the apartment through your own private vestibule into a beautifully designed gallery. The 10th floor features a magnificent living room with a wood-burning fireplace, three Juliet balconies, gorgeous moldings and high ceilings. There is a wood paneled library, a beautiful formal dining room, an enormous state-of-the art chefs kitchen with Bilotta cabinetry, a powder room, and a maid's room with a separate bathroom.
1 Available Listing for $795K
40 Bleecker Street via Evan Joseph
From the listing:
Occupying the coveted Northwest corner of 40 Bleecker Street, residence 5B spans 1,941 square feet, offering three bedrooms and three-and-a-half bathrooms, imbued with a timeless yet modern beauty and an authentic story of material and craftsmanship throughout. Beyond the formal entry foyer, with expansive 10-foot coved ceilings that both absorb and reflect light, the luminous great room is encircled by generous windows that invite a balance of light and privacy, culminating in a subtle curve along the northwest corner that reveals stunning Manhattan views from this rare vantage point in Noho. In a versatile open layout that encourages entertainment and leisure, the living room elegantly unfolds toward the impeccably tailored custom Ryan Korban-designed kitchen, merging refined detail with rich materials.
Occupying the coveted Northwest corner of 40 Bleecker Street, residence 5B spans 1,941 square feet, offering three bedrooms and three-and-a-half bathrooms, imbued with a timeless yet modern beauty and an authentic story of material and craftsmanship throughout. Beyond the formal entry foyer, with expansive 10-foot coved ceilings that both absorb and reflect light, the luminous great room is encircled by generous windows that invite a balance of light and privacy, culminating in a subtle curve along the northwest corner that reveals stunning Manhattan views from this rare vantage point in Noho. In a versatile open layout that encourages entertainment and leisure, the living room elegantly unfolds toward the impeccably tailored custom Ryan Korban-designed kitchen, merging refined detail with rich materials.
7 Available Listings from $2M
3. 11 Beach, 11 Beach Street, #THA – $6,500,136 ($1,054 / ft2)
Tribeca | Condo | 4 beds, 4.5 baths | 6,169 ft2
Tribeca | Condo | 4 beds, 4.5 baths | 6,169 ft2
11 Beach via Douglas Elliman
2 Available Listings from $7.22M
Top Contracts
Midtown West | Condo | 3 beds, 5 baths | 4,483 ft2
One57 via The Corcoran Group
From the listing:
This 58th floor "A line" residence at One57 offers spectacular views of Central Park and New York City throughout. Custom designed, this three bedroom, four and a half bathroom residence is a prime display of contemporary design. With a total of 4,483 square feet, this residence is exceptionally laid out with expansive entertaining areas featuring open views of Central Park and Manhattan throughout. Residence #58A features a large foyer leading to a grand salon. The sprawling entertaining space spans 58 ft., with approximately 12' ceilings, and floor-to-ceiling windows that perfectly frame incredible, unobstructed views of Central Park and the skyline. It is modernly appointed with custom lighting and millwork throughout. The result is an elegant and contemporary city retreat. Features of this grand salon include a custom backlit bar, separate entertainment center, various seating areas, and formal dining. This smart residence is controlled by a state-of-the-art Crestron home automation system that operates the custom lighting, A/V equipment, and shades throughout.
This 58th floor "A line" residence at One57 offers spectacular views of Central Park and New York City throughout. Custom designed, this three bedroom, four and a half bathroom residence is a prime display of contemporary design. With a total of 4,483 square feet, this residence is exceptionally laid out with expansive entertaining areas featuring open views of Central Park and Manhattan throughout. Residence #58A features a large foyer leading to a grand salon. The sprawling entertaining space spans 58 ft., with approximately 12' ceilings, and floor-to-ceiling windows that perfectly frame incredible, unobstructed views of Central Park and the skyline. It is modernly appointed with custom lighting and millwork throughout. The result is an elegant and contemporary city retreat. Features of this grand salon include a custom backlit bar, separate entertainment center, various seating areas, and formal dining. This smart residence is controlled by a state-of-the-art Crestron home automation system that operates the custom lighting, A/V equipment, and shades throughout.
20 Available Listings from $3.6M
Carnegie Hill | Condo | 5 beds, 5.5 baths | 3,705 ft2
The Benson via Hayes Davidson
From the listing:
This full floor condo has 3,705 square feet including 5 bedrooms and 5.5 bathrooms. A living room opens onto a 26' terrace. The living room, dining room, library and master suite with a bay window-all face west over Madison Avenue. The 15-unit, 18-story building was designed in a traditional style by architect Peter Pennoyer. Amenities include a concierge, roof terrace, fitness center, half-court basketball, a children's playroom, a library with a garden, and a pet spa.
This full floor condo has 3,705 square feet including 5 bedrooms and 5.5 bathrooms. A living room opens onto a 26' terrace. The living room, dining room, library and master suite with a bay window-all face west over Madison Avenue. The 15-unit, 18-story building was designed in a traditional style by architect Peter Pennoyer. Amenities include a concierge, roof terrace, fitness center, half-court basketball, a children's playroom, a library with a garden, and a pet spa.
Soho | Co-op | 4 beds, 4.5 baths | 4,300 ft2
94 Mercer Street via Bond NY
From the listing:
Enjoy an unparalleled indoor/outdoor living experience in this grand duplex apartment. Situated in an historic cast iron building, the penthouse at 94 Mercer captivates with an interior two-story atrium that floods the home with natural light. Beautiful wood-framed glass doors slide open to access the interior courtyard from all directions, making for an incredible entertaining space.
A keyed elevator directly to the apartment offers the utmost privacy and discretion. Dramatic 14' ceilings invite you into a window-lined gallery leading to the majestic living and dining rooms. Just beyond, a cozy library, wet bar, and staircase to a mezzanine level bedroom (currently configured as a home office).
The double-windowed eat-in kitchen is a chef's dream. Ample counters of stainless steel and honed stone, Viking wall ovens, a side-by-side Subzero refrigerator, and a large island featuring a Viking range and vegetable sink outfit this welcoming space.
Enjoy an unparalleled indoor/outdoor living experience in this grand duplex apartment. Situated in an historic cast iron building, the penthouse at 94 Mercer captivates with an interior two-story atrium that floods the home with natural light. Beautiful wood-framed glass doors slide open to access the interior courtyard from all directions, making for an incredible entertaining space.
A keyed elevator directly to the apartment offers the utmost privacy and discretion. Dramatic 14' ceilings invite you into a window-lined gallery leading to the majestic living and dining rooms. Just beyond, a cozy library, wet bar, and staircase to a mezzanine level bedroom (currently configured as a home office).
The double-windowed eat-in kitchen is a chef's dream. Ample counters of stainless steel and honed stone, Viking wall ovens, a side-by-side Subzero refrigerator, and a large island featuring a Viking range and vegetable sink outfit this welcoming space.
1 Available Listing for $4.75M
Would you like to tour any of these properties?
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Or call us at (212) 755-5544
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