Buyers and sellers in Manhattan’s luxury real estate market are experiencing a busy fall season, with contract activity remaining strong. According to Olshan Realty’s latest report, 31 contracts were signed last week for homes priced at $4 million or more. This is an increase from the previous week’s 30 contracts and marks the first time since early June that two consecutive weeks have seen at least 30 deals.
The most expensive property to enter contract was a condominium at Extell Development’s Central Park Tower. The unit, located on the 121st floor of 217 West 57th Street, had an asking price just under $55 million. Sales for this apartment began in 2018 with an initial price above $65 million. Sources told The Real Deal that the buyer is domestic and paid all cash for the purchase.
Sources also noted that the final sale price will likely be close to that of a similar unit on the 116th floor, which had been listed at $53 million but ultimately sold for $46 million in April—a reduction of about 13 percent from its asking price.
The condo features five bedrooms, five bathrooms, and floor-to-ceiling windows offering views of Central Park. Amenities at Central Park Tower include indoor and outdoor pools, a fitness center, and a club room on the 100th floor. Marketproof data indicates that two-thirds of the building’s 178 units have been sold.
Sales at Central Park Tower are managed by teams from Gary Barnett’s firm—led by Gabriele Tonini and Tim Rizzo—and Corcoran Sunshine Marketing Group—led by Kane Manera and Janet Wange.
The second priciest home to secure a contract was a condo at Zeckendorf Development’s 15 Central Park West. Unit 29A entered the market in May with an asking price of $25 million. The three-bedroom, three-bathroom apartment spans 3,100 square feet and includes both a library and formal dining room. It was last sold in 2008 for $10.5 million.
Known as “Limestone Jesus,” the Robert A.M. Stern-designed building offers amenities such as a fitness center, pool, private restaurant, and terrace. Deborah Kern from Corcoran represented this listing.
Of last week’s signed contracts, there were 22 condos, six co-ops, two condops, and one townhouse involved. The combined asking prices totaled $344 million; average price was $11.1 million while median price stood at $7.5 million. Homes typically spent about eighteen months on the market before selling at an average discount of ten percent from their original list prices.
