Walker Tower and 140 East 19th Street via Sotheby's; Paulina Porizkova and Ric Ocasek via Wiki Commons
Over the past seven days, closed condo, co-op, and condop sales in Manhattan came to a total of $301.5 million with an average price of $2.22 million from 129 sales. These figures show a spike up from last week's total of $266.4 million.
The 42 condo sales aggregated $200 million with an average price of $4.77 million, or $2,146 per square foot. The 83 co-op sales aggregated $99 million with an average price of $1.19 million.
The 42 condo sales aggregated $200 million with an average price of $4.77 million, or $2,146 per square foot. The 83 co-op sales aggregated $99 million with an average price of $1.19 million.
For the third time in August 2020, 220 Central Park South topped last week's sales. A full-floor residence came in at $61 million, followed by an apartment in the Villa portion of the building that closed for $40.73 million. The Real Deal notes that the latter apartment went into contract more than a year ago, and that 91 percent of all units at 220 Central Park South have been sold.
In this article:
The week's highest recorded sale in a building other than 220 Central Park South was #PH1 at Walker Tower, a telephone office turned condominium. It closed for $18.25 million, or a whopping 66.8 percent below its last listing price of $55 million.
When #PH1 closed for $50.9 million at the beginning of 2014, it set a new downtown record for the most expensive home sale. It was relisted for $70 million about a year later, with the listing agent at the time citing the strength of the high-end Manhattan market. Since then, though, federal prosecutors filed a complaint alleging that the apartment was purchased using funds from Malaysian sovereign wealth fund 1Malaysia Development Bhd. (1MDB), and the property was one of many assets seized as the 1MDB scheme unraveled. The Real Deal reports that Walker Tower's condo board tried to exercise its right of first refusal on the heavily discounted sale, arguing that it would hurt property values -- one broker likened it to a sample sale -- but a federal judge did not allow it.
When #PH1 closed for $50.9 million at the beginning of 2014, it set a new downtown record for the most expensive home sale. It was relisted for $70 million about a year later, with the listing agent at the time citing the strength of the high-end Manhattan market. Since then, though, federal prosecutors filed a complaint alleging that the apartment was purchased using funds from Malaysian sovereign wealth fund 1Malaysia Development Bhd. (1MDB), and the property was one of many assets seized as the 1MDB scheme unraveled. The Real Deal reports that Walker Tower's condo board tried to exercise its right of first refusal on the heavily discounted sale, arguing that it would hurt property values -- one broker likened it to a sample sale -- but a federal judge did not allow it.
Beekman Residences via Douglas Elliman
From August 24-30, 13 contracts comprising 10 apartments and three townhouses were signed for Manhattan listings priced over $4 million, one fewer than last week and at an aggregate total of $91,135,000. This is one below last week's total; indeed, August 2020's contracts price over $4 million came to a total of 42, as opposed to last year's total of 59. The August 2020 total is the lowest since 2011; nevertheless, Olshan Realty's market report lists this as a solid return for a typically quiet week in August with the coronavirus pandemic as a backdrop.
The top contract of the week was the penthouse at The Beekman Residences, listed for $12.495 million and located in the new tower constructed above The Beekman, a luxury hotel that has taken shape in Temple Court, a New York City Landmark. The condo's owners will have access to all the hotel's amenities and restaurants.
The second-highest contract was a historic Gramercy townhouse asking $10 million and previously owned by supermodel Paulina Porzikova and deceased Cars frontman Ric Ocasek. This is a reduction from its original listing price of $15.25 million, following the couple's separation, but four times the price they paid in 1989. Listing broker Debbie Korb of Sotheby's International Realty says the couple that purchased it only visited the townhouse twice, and the client brought an architect and contractor on the first visit.
The top contract of the week was the penthouse at The Beekman Residences, listed for $12.495 million and located in the new tower constructed above The Beekman, a luxury hotel that has taken shape in Temple Court, a New York City Landmark. The condo's owners will have access to all the hotel's amenities and restaurants.
The second-highest contract was a historic Gramercy townhouse asking $10 million and previously owned by supermodel Paulina Porzikova and deceased Cars frontman Ric Ocasek. This is a reduction from its original listing price of $15.25 million, following the couple's separation, but four times the price they paid in 1989. Listing broker Debbie Korb of Sotheby's International Realty says the couple that purchased it only visited the townhouse twice, and the client brought an architect and contractor on the first visit.
Top Sales
1. 220 Central Park South, #70
$61,000,000 ($10,278 / ft2)
Midtown West | Condo | 4 beds, 5 baths | 5,935 ft2
2 listings from $15 million
$61,000,000 ($10,278 / ft2)
Midtown West | Condo | 4 beds, 5 baths | 5,935 ft2
2 listings from $15 million
All renderings of 220 Central Park South via Vornado Realty Trust
2. 220 Central Park South, #V-7
$40,730,000 ($8,235 / ft2)
Midtown West | Condo | 5 beds, 6.5 baths | 4,946 ft2
2 listings from $15 million
$40,730,000 ($8,235 / ft2)
Midtown West | Condo | 5 beds, 6.5 baths | 4,946 ft2
2 listings from $15 million
3. Walker Tower, 212 West 18th Street, #PH1
$18,250,000 ($9,236 / ft2)
Chelsea | Condo | 5 beds, 5.5 baths | 6,275 ft2
2 listings from $16.75 million
$18,250,000 ($9,236 / ft2)
Chelsea | Condo | 5 beds, 5.5 baths | 6,275 ft2
2 listings from $16.75 million
All images of 1067 Fifth Avenue via Warburg Realty
5. The Belvoir, 470 West End Avenue, #11C
$5,200,000 ($9,236 / ft2)
Riverside Drive / West End Avenue | Co-op
3 listings from $1.35 million
$5,200,000 ($9,236 / ft2)
Riverside Drive / West End Avenue | Co-op
3 listings from $1.35 million
The Belvoir via Compass
Top Contracts
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Financial District | Condo | 3 beds, 3.5 baths | 3,554 ft2
All images of The Beekman Residences via Douglas Elliman
From the listing:
With 16' ceiling heights and glass windows to match, the pinnacle penthouse at The Beekman Residences encompasses the entire 51st floor, exhibiting panoramic 360-degree views from the downtown cityscape, river-to-river views, and the iconic New York City skyline. Comprised of three bedrooms and three and half baths, spread across 3,554 square feet, the PH features seven-and-a-half-inch wide oak flooring throughout and a 155 square foot private terrace custom designed by Thomas Juul-Hansen.
This sanctuary in the sky provides modern luxury living at its finest with a nearly 50' long great room showcasing double exposures of the river, all three bridges, and the city's iconic skyscrapers through floor-to-ceiling windows, perfect for grand entertaining or relaxing next to the 16' marble fireplace.
With 16' ceiling heights and glass windows to match, the pinnacle penthouse at The Beekman Residences encompasses the entire 51st floor, exhibiting panoramic 360-degree views from the downtown cityscape, river-to-river views, and the iconic New York City skyline. Comprised of three bedrooms and three and half baths, spread across 3,554 square feet, the PH features seven-and-a-half-inch wide oak flooring throughout and a 155 square foot private terrace custom designed by Thomas Juul-Hansen.
This sanctuary in the sky provides modern luxury living at its finest with a nearly 50' long great room showcasing double exposures of the river, all three bridges, and the city's iconic skyscrapers through floor-to-ceiling windows, perfect for grand entertaining or relaxing next to the 16' marble fireplace.
5 Available Listings from $1.35M
Gramercy | Townhouse | 5 beds, 4.5 baths | 5,760 ft2
All images of 140 East 19th Street via Sotheby's International Realty
From the listing:
A magnificent 23.5- foot-wide townhouse featuring a living room with a 20-foot high ceiling built by the legendary Rosario Candela as part of a 1919 Sterner and Wolf remodel of a house on Gramercy Park's "block beautiful" - a charming stretch of 19th Street between Irving Place and Third Avenue. Abundant wall space provides a gallery-like setting for works of art. A remarkable wall of casement windows overlooks a private south-facing garden, and an intimate mezzanine overlooks this grand reception room. An adjacent eat-in kitchen features classic black-and-white-floors, a substantial chef's range and a service entrance for easy deliveries.
On the second floor, a huge master bedroom suite occupies the entire width of the house, with French doors opening onto a private terrace. Four additional bedrooms, four and a half baths, a skylit home office and a basement recording studio complete this remarkable family home. An elevator provides direct access to every floor. Built 60 feet deep on a 92-foot lot, this approximately 5,760-square-foot house offers the unique opportunity to create a one-of-a-kind masterpiece with spaces for both grand entertaining and quiet contemplation.
A magnificent 23.5- foot-wide townhouse featuring a living room with a 20-foot high ceiling built by the legendary Rosario Candela as part of a 1919 Sterner and Wolf remodel of a house on Gramercy Park's "block beautiful" - a charming stretch of 19th Street between Irving Place and Third Avenue. Abundant wall space provides a gallery-like setting for works of art. A remarkable wall of casement windows overlooks a private south-facing garden, and an intimate mezzanine overlooks this grand reception room. An adjacent eat-in kitchen features classic black-and-white-floors, a substantial chef's range and a service entrance for easy deliveries.
On the second floor, a huge master bedroom suite occupies the entire width of the house, with French doors opening onto a private terrace. Four additional bedrooms, four and a half baths, a skylit home office and a basement recording studio complete this remarkable family home. An elevator provides direct access to every floor. Built 60 feet deep on a 92-foot lot, this approximately 5,760-square-foot house offers the unique opportunity to create a one-of-a-kind masterpiece with spaces for both grand entertaining and quiet contemplation.
Midtown West | Townhouse | 5 beds, 5.5 baths | 7,000 ft2
All images of 416 West 51st Street via The Corcoran Group
From the listing:
Passionate architectural creativity and state of the art design merge in this rarely available 6-story, 25-foot-wide state-of-the-art elevator townhouse that has been transformed into an incredible 7,000-square-foot manse. The townhouse is comprised of 5 bedrooms, 5 bathrooms, and 3 powder rooms! Every square inch has been completely rebuilt with the highest quality materials and technology. Architectural highlights include a sublime penthouse master suite cantilevered over the garden below which features 20' ceilings, stunning oversized master bathroom, dressing room, teak balcony, expansive walls of glass, open views, an upper level study and media area with gas burning fireplace and a sleek roof top terrace for entertaining. The roof terrace is accessible off the elevator landing so one does not have to enter the master to access it. Multiple entertaining spaces include an exciting sports bar and recreation hall which spills out onto a beautiful garden.
Passionate architectural creativity and state of the art design merge in this rarely available 6-story, 25-foot-wide state-of-the-art elevator townhouse that has been transformed into an incredible 7,000-square-foot manse. The townhouse is comprised of 5 bedrooms, 5 bathrooms, and 3 powder rooms! Every square inch has been completely rebuilt with the highest quality materials and technology. Architectural highlights include a sublime penthouse master suite cantilevered over the garden below which features 20' ceilings, stunning oversized master bathroom, dressing room, teak balcony, expansive walls of glass, open views, an upper level study and media area with gas burning fireplace and a sleek roof top terrace for entertaining. The roof terrace is accessible off the elevator landing so one does not have to enter the master to access it. Multiple entertaining spaces include an exciting sports bar and recreation hall which spills out onto a beautiful garden.
NoMad | Condo | 3 beds, 4 baths | 2,219 ft2
All images of 277 Fifth Avenue via The Corcoran Group
From the listing:
Designed by internationally acclaimed architect Rafael Vinoly with luxuriously appointed interiors by Jeffrey Beers International, this home is a gracious 2,219-square-foot three-bed, three-and-a-half-bath spanning the entire western facade with north and south corner exposures. Floor-to-ceiling windows showcase panoramic Midtown views including the Empire State Building, the Chrysler Building, the Hudson River, One World Trade and beyond. A subtle and serene array of warm, natural materials complements the towers robust modern architecture. Perimeter columns establish an alternating rhythm of vertical floor-to-ceiling windows framing the views along multiple exposures and solid walls for displaying art. Interiors are graced with ceiling heights reaching over ten feet, in addition to a selection of warm woods and elegant natural stones. The open kitchen is a palette of pale-oak cabinets with Calacatta Saccheli polished marble slab center islands, countertops, and backsplash which gives the kitchens a luminous glow.
Designed by internationally acclaimed architect Rafael Vinoly with luxuriously appointed interiors by Jeffrey Beers International, this home is a gracious 2,219-square-foot three-bed, three-and-a-half-bath spanning the entire western facade with north and south corner exposures. Floor-to-ceiling windows showcase panoramic Midtown views including the Empire State Building, the Chrysler Building, the Hudson River, One World Trade and beyond. A subtle and serene array of warm, natural materials complements the towers robust modern architecture. Perimeter columns establish an alternating rhythm of vertical floor-to-ceiling windows framing the views along multiple exposures and solid walls for displaying art. Interiors are graced with ceiling heights reaching over ten feet, in addition to a selection of warm woods and elegant natural stones. The open kitchen is a palette of pale-oak cabinets with Calacatta Saccheli polished marble slab center islands, countertops, and backsplash which gives the kitchens a luminous glow.
13 Available Listings from $3.7M
Upper West Side | Condo | 6 beds, 5.5 baths | 4,600 ft2
All images of The Coronado via Sherwood Residential
From the listing:
The gracious entry hallway leads to an enormous corner living room / dining room with built in library and north / east double exposure, the space lends itself perfectly for entertaining large groups and dinner parties. The powder room is perfectly situated as well. Just off the grand living room is the well-equipped windowed eat-in kitchen, outfitted with Wolf and Sub-Zero and the perfect place for intimate eating. Located near the kitchen is a thoughtfully designed windowed home office and a substantial amount of storage space, not just in the kitchen area but throughout the home, including three Cedar closets and six corridor closets.
The south facing bedroom wing is designed for privacy and located off the main entry corridor. The master suite is epic in proportion, the room welcomes you with a gracious sitting area and the huge master walk-in closet is indeed one of a kind. The master bathroom with soaking Jacuzzi tub and separate steam shower of truly impressive dimensions is clad in luxurious stone. Additionally, in this bedroom wing, there are two south facing bedrooms with two full bathrooms.
The gracious entry hallway leads to an enormous corner living room / dining room with built in library and north / east double exposure, the space lends itself perfectly for entertaining large groups and dinner parties. The powder room is perfectly situated as well. Just off the grand living room is the well-equipped windowed eat-in kitchen, outfitted with Wolf and Sub-Zero and the perfect place for intimate eating. Located near the kitchen is a thoughtfully designed windowed home office and a substantial amount of storage space, not just in the kitchen area but throughout the home, including three Cedar closets and six corridor closets.
The south facing bedroom wing is designed for privacy and located off the main entry corridor. The master suite is epic in proportion, the room welcomes you with a gracious sitting area and the huge master walk-in closet is indeed one of a kind. The master bathroom with soaking Jacuzzi tub and separate steam shower of truly impressive dimensions is clad in luxurious stone. Additionally, in this bedroom wing, there are two south facing bedrooms with two full bathrooms.
1 Available Listing for $799K
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