NYC Real Estate Round-Up

MAY 16, 2012

The high-profile Courtney Sale Ross duplex at 740 Park Avenue has been sold for $52 million. Though the final sale price was lower than the $60 million asking price, it still sets the record for the highest co-op sale in NYC to date. Howard and Nancy Marks (he is chairman of an investment group) paid in cash for the 30-room apartment with six terraces, eight bedrooms and seven fireplaces (CurbedNY).

A listing comprised of three apartments at the Plaza at 768 Fifth Avenue hit the market last week for $55 million. The listing includes two combined units and another across the hall, which the seller won’t divide. The combined 5,850 feet of apartment–including a 60-foot-plus living room–is one of the most expensive listings currently on the market, but not the most expensive: A unit at 50 Central Park South is currently listed for $77.5 million, and a Time Warner Center penthouse has a $60 million ask (TheRealDeal).

The Hell’s Kitchen condo known as The Centro has sold all of its apartments after a rocky start during the market’s worst days in 2007, when 50 buyers bailed out of their contracts. The 108-unit building at 505 West 47th Street has finally filled its last available apartment, a one-bedroom which sold for $790,000. Developers credit the neighborhood’s gentrification in recent years for the ability to sell the apartments at or near 2007 prices (TheRealDeal).

It may have been decades since the Upper West Side’s darker days, but additions like luxury retail stores and high-end rental buildings have recently underscored the fact that the glamour quotient has risen considerably. Buildings like the Laureate at 78th Street and Broadway and the Olcott condominium at 27 West 72nd Street exemplify today’s chic Upper West Side residence (New York Daily News).

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NYC Real Estate Round-Up

MAY 16, 2012

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