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A blog from CityRealty (Links below will take you to the 6sqft site)

Features

Manhattan Sales:

  • The fourth full week of May 2022 recorded $479.3 million worth of transactions across 203 condo, condop, and cooperative deals
  • 130 condo sales came to a median price of $1.766 million ($1,911 per square foot)
  • Two condop sales came to a median price of $850K
  • 101 co-op sales came to a median price of $725K
Billionaires' Row dominated last week's top sales, with all of the top five sales located along the transformed street and accounting for a total of $125 million in sales. A 4,322-square-foot penthouse at 520 Park Avenue closed for $32,667,000 — an 18.2% reduction from the last listing price of $39,950,000, but nevertheless the top sale of the past week. It was trailed closely by a 78th-story apartment at the Rafael Vinoly-designed 432 Park Avenue, which closed for $31,990,505. On the opposite side of Central Park, new skyline stalwarts 111 West 57th Street, 15 Central Park West, and Central Park Tower also presented impressive sales.
53-West-53rd-Street-01 Billionaires' Row condos dominated the top sales and contracts (53W53 #PH75, Douglas Elliman)
Manhattan Contracts:

  • From May 23-29, 2022, a total of 264 townhouses, condos, co-ops, and condops entered contract
  • The average time on the market was 89 days
  • The total sticker price sum came to $528 million, and the median last asking price came to $1.25 million
  • There were a total of 110 condo deals, coming to a total of $299 million. They came to a median asking price of $1.745 million and spent an average of 73 days on the market
  • The 4 condop deals came to a total of $5 million and a median last asking price of $1.143M. They spent an average of 97 days on the market
  • The 146 co-op deals aggregated to $189 million and came to a median last asking price of $895K. They spent an average of 64 days on the market
  • The 4 townhouse deals came to a total of $36 million and a median last asking price of $7.588 million. They spent an average of 462 days on the market
It was another slow week for luxury contracts, with only 21 signed for units priced at $4 million and up. Olshan Realty's market report observes that this is the third week in a row of declining luxury sales, and that the past week's figure is below the Memorial Day weekend 10-year average of 26 luxury contracts. Olshan attributes the change to the combination of rising interest rates and a falling stock market, but the Memorial Day holiday cannot have helped, either.
Just as on the sales side, a high-floor home in a new Midtown supertall took the top contract: 53 West 53rd Street's #PH75, which was asking $33,095,000, or an 8.8% reduction from when it was listed off of floor plans in July 2015. The home occupies the entire 75th floor of the Jean Nouvel-designed tower and features two bedrooms, two and a half baths, and windows on three sides with spectacular views of Central Park, the Midtown skyline, and the Hudson River.
However, that is not to say the prewar buildings of yesteryear have been consigned to history. The second-highest contract and top co-op contract was a duplex apartment at The Beresford, which was asking $19,990,000. The apartments were purchased separately in 2015 for a total of $15.1 million, combined, and listed for $21 million in July 2021. The buyer was not identified, but the Emery Roth-designed building's notable residents, past and present, include Helen Gurley Brown, John McEnroe, Alex Rodriguez, Diane Sawyer, and Jerry Seinfeld.
The top townhouse contract and fourth-highest overall was 27 Vandam Street, a Federal-style townhouse dating back to 1823 and asking $14,995,000. It was previously owned by celebrated choreographer Paul Taylor, and underwent a three-year gut renovation following his death in 2018. The listing notes that Mr. Taylor used the top floor as his personal dance studio and created many of his ballets there. Floor plans indicate that the top floor is now bedrooms, but a buyer could very well turn the lower-level recreation room, with its 11-foot ceilings and triple skylights, into a dance studio of their own.








Notable Sales and Contracts
188-Sullivan-Street-01 188 Sullivan Street (Sotheby's International Realty)
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Greenwich Village's MacDougal-Sullivan townhouses were specifically built in the 1850s with the goal of attracting artists and musicians, and 188 Sullivan Street has succeeded on that count. Composer Edgard Varese purchased the townhouse in 1923 and spent the next several decades using it as a salon and meeting place for many famous artists and musicians from both Europe and the US, including Marcel Duchamp, Dizzy Gillespie, and Alexander Calder. Its most recent owner, Chou Wen-Chung, was Mr. Varese's protégé and one of the most celebrated Asian-American composers of the 20th century. Following Mr. Chou's death in 2019, his estate has sold his townhouse.

2036-Fifth-Avenue-01 2036 Fifth Avenue, #TH (Compass)
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When power couple Neil Patrick Harris and David Burtka bought their Harlem townhouse for $3.6 million in 2013, the purchase attracted newfound attention to the neighborhood. Since then, the home has been creatively renovated and featured in Mr. Burtka's cookbook Life is a Party. The townhouse has been on and off the market since August 2021, when the family began spending more time at their Hamptons estate; Gimme Shelter announced the contract, called it a record for the neighborhood, and identified the buyer only as "a local New Yorker in love with the house and the 'hood."

Top Sales
520-Park-Avenue-01 520 Park Avenue
3 Available Listings for Sale from $19,550,000

432-Park-Avenue-01 432 Park Avenue
18 Available Listings for Sale from $5.25M
1 Available Listing for Rent for $75,000/month

111-West-57th-Street-01 111 West 57th Street, #64 (Douglas Elliman)
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From the Listing:
Tower Residence 64 is a singular offering at 111 West 57th Street and the only simplex apartment to offer private outdoor space with a 309-square-foot terrace boasting panoramic southern city skyline views. 3,873 square feet of beautifully proportioned interior space are designed for contemporary living on a grand scale, with three bedrooms and three and a half bathrooms. The finishes are designed throughout by Studio Sofield, and demonstrate an extraordinary commitment to traditional materiality, quality and craftsmanship. The expansive, formal central entrance gallery has white macauba stone floors and offers views to both north and south. Grand double doors open into the spectacular Great Room which boasts monumental ceiling heights of 14 feet and intricate parquet floors in solid fumed smoke-gray oak. Floor-to-ceiling windows framed in bronze showcase dramatic views of Central Park that are unobstructed and perfectly centered.
10 Available Listings for Sale from $7.75M
1 Available Listing for Rent for $2 7,500/month

15-Central-Park-West-01 15 Central Park West, #6D (Sotheby's International Realty)
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From the Listing:
Located in the house on a semi-private landing, Apartment 6D is over 3,300 square feet of sublime living space. The layout consists of a living room, formal dining room, eat-in kitchen, and four bedrooms or three bedrooms, and a library, plus 4.5 marble bathrooms. A foyer opens into a 29’ baronial central gallery sweeping into the corner living room with an adjacent formal dining room. Offering dramatic park and city views for grand-scale entertaining or intimate dining and entertaining experiences. Adjacent to the formal dining room is the well-equipped chef's eat-in kitchen that flows into the entertainment space.
12 Available Listings for Sale from $3.995M
4 Available Listings for Rent from $28,000/month

217-West-57th-Street Central Park Tower, #96W (Extell)
13 Available Listings for Sale from $7.75M
3 Available Listings for Rent from $15,000/month



Top Contracts
53-West-53rd-Street-01
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From the Listing:
Comprising the entire 75th floor at 53 West 53, this grand penthouse residence features gracious proportions, magnificent details, and ceilings that range up to approximately 11 feet, setting the awe-inspiring stage for world-renowned designer Thierry Despont’s masterfully conceived interiors. Bespoke detailing typically reserved for privately commissioned homes abounds, while a rich yet soft palette of museum-quality finishes imbues each space with both modern glamour and timeless elegance. With direct elevator access, the exquisite home opens upon a sprawling gallery that leads to a spectacular 38’10" x 22’2" living room surrounded by three walls of floor-to-ceiling windows that artfully frame north-, west-, and east-facing views that dazzle at every moment of day or night.
19 Available Listings for Sale from $3.995M

211-Central-Park-West-01
211-Central-Park-West-02 The Beresford, #15/16A floor plan (Brown Harris Stevens)
From the Listing:
This dramatic mint contemporary duplex is the wonderful result of a collaboration of John B. Murray’s amazing talent and timeless aesthetic and Jennifer Post’s brilliant and sophisticated modern design. The views and light are unparalleled and the attention to detail in the creation of this home’s elegant, clean lines is unrivaled. Off a semi private elevator enter onto the 16th floor and immediately you are welcomed with stunning southern light and open views over The Hayden Planetarium, Central Park and the Midtown skyline. The staircase is an art piece which creates a double height for the library below, and ahead the living room and formal dining room, or double living room, have mesmerizing views of Central Park, the Planetarium and the Midtown skyline.
6 Available Listings for Sale from $3.895M

18-Gramercy-Park-South-01
18-Gramercy-Park-South-02 18 Gramercy Park South, #10 (Douglas Elliman)
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From the Listing:
Residence 10 is a full floor, meticulously designed home, with 3-view exposures that occupies more than 4,200 square feet with spectacular convergence of light, space, and privacy with 40 feet of frontage on Gramercy Park and rooms on Irving Place encompassed by an abundance of over-sized windows in every room. This full service, pre-war condominium residence is accessed directly via two key-locked elevators. It has been designed by renowned designer Andrew Scheinman of Pembrooke and Ives. Key to Gramercy Park!

27-Vandam-Street-01 27 Vandam Street, #TH (Compass)
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From the Listing:
Located in the National Register of Historic Places section of the South Village and landmarked by the New York City Landmarks Commission, 27 Vandam Street is part of a rare row of exceptional Federal-styled townhomes. Together with the vision of Erica Goetz, formerly of Matthew Baird Architects, the current owners meticulously gut renovated the entire home, retaining much of the original masonry and details, such as the high parlor ceilings, the original staircase railing and factually replicated crown moulding while implementing every modern necessity and luxury. Ideally situated on the cusp of the West Village and Soho, this exceptional turnkey single-family townhome offers 5,100 square feet of interior living space, generously proportioned over 4 stories plus skylit lower level.

378-West-End-Avenue-01 378 West End Avenue, #2C (Compass)
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From the Listing:
With its classic and elegant floor plan with a huge garden terrace and two more outdoor spaces off the four upstairs bedrooms, this south-facing apartment feels like a wonderful residence outside the city while also having all of the elements of a great classic New York apartment. The stage for this beautiful apartment is set with its gracious entrance gallery which leads to a living room, formal dining room and library (with full bath for flexibility) that stretch across the over 50-foot south-facing garden terrace.
10 Available Listings for Sale from $3.6M

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