Late August is typically a quiet time for the Manhattan real estate market; and indeed, the week of August 19-25, 2024 saw an 8% drop in contracts signed from the previous week. But between lower mortgage rates, the possibility of the Federal Reserve cutting interest rates in the near future, and a boost in inventory earlier this year, the number of deals signed August 2024 could very well surpass those of August 2023. Moreover, thanks to a number of high-value contracts signed during the third full business week of August 2024, total sales volume jumped over 30% week-over-week.
Central Park Tower, the tallest residential building in the world, racked up another superlative with the top contract of the week. Residence #39B, a 7,587-square-foot simplex with a nearly 2,000-square-foot private terrace overlooking Central Park, was asking $59,000,000 when it entered contract last Monday. The sale reportedly closed a short time later (h/t The Real Deal), though it has not yet entered public record.
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Central Park Tower, #39
While the top contract by a comfortable margin, the asking price represents 21% a reduction from the $75 million the apartment was listed for when it was marketed off floor plans in 2018. The contract was signed approximately two months after a duplex penthouse several stories up closed in one of the highest-priced sales of 2024 to date.
The week's top townhouse contract and second-highest overall had an asking price of $36,000,000, or slightly below the $38 million price when it was listed last spring. 12 East 79th Street dates back to 1903, when it was designed by Arthur Little for real estate developer Charles Walter Ogden and his sister, Mary F. Ogden.
12 East 79th Street, #TH (Douglas Elliman)
The School of Practical Philosophy, which counts actor Hugh Jackman among its students, has owned the townhouse since 1975, though it is not clear how much the non-profit paid for it. Some of the bedrooms were turned into classrooms, though original architectural details like elegant ceiling details and intricate moldings may still be found throughout.
Most recently, the School of Practical Philosophy has moved some of its operations to its Hudson Valley location and leased the building to a Montessori school shortly before the pandemic (h/t Mansion Global). The townhouse has reportedly been on and off the market for over a decade, starting at $51 mllion.
Most recently, the School of Practical Philosophy has moved some of its operations to its Hudson Valley location and leased the building to a Montessori school shortly before the pandemic (h/t Mansion Global). The townhouse has reportedly been on and off the market for over a decade, starting at $51 mllion.
The Greenwich Lane, #PH8, top Downtown contract of the week (Corcoran Group)
The top Downtown contract and third-highest overall took place at The Greenwich Lane, the residential conversion of the former St. Vincent's Hospital. Penthouse #8 entered contract with a $32,000,000 asking price almost exactly two months after it was listed and shortly after media executive Michael Ovitz sold his apartment in the development.
Seller Peter Barbey, former owner of The Village Voice, and his wife, Tony Award voter Pamela Barbey, listed the three-bedroom duplex penthouse with 3,148 square feet of private terrace space in June 2024 amidst plans to move closer to family uptown. The buyer was not identified.
Seller Peter Barbey, former owner of The Village Voice, and his wife, Tony Award voter Pamela Barbey, listed the three-bedroom duplex penthouse with 3,148 square feet of private terrace space in June 2024 amidst plans to move closer to family uptown. The buyer was not identified.
One High Line (Evan Joseph)
It was closely trailed by East Penthouse #25A at One High Line, which was asking $28,000,000. This represents the latest high-priced penthouse contract at the two-towered, Bjarke Ingels-designed development in the West Chelsea skyline. Penthouses in the West Tower asking $52 million and $30 million entered contract in June 2023, but neither sale has been recorded yet.
The penthouse is situated near the top of the East Tower and several stories above the forthcoming Faena New York, the luxury hotel's first outpost in the city. When it opens in early 2025, the penthouse's unidentified buyers, like all One High Line residents, will enjoy access to a restaurant by acclaimed chef Francis Mallman, exclusive members' club Faena Rose, and the 17,000-square-foot Tierra Santa Healing House spa. In the meantime, residents-only wellness and social amenities are open throughout One High Line.
The penthouse is situated near the top of the East Tower and several stories above the forthcoming Faena New York, the luxury hotel's first outpost in the city. When it opens in early 2025, the penthouse's unidentified buyers, like all One High Line residents, will enjoy access to a restaurant by acclaimed chef Francis Mallman, exclusive members' club Faena Rose, and the 17,000-square-foot Tierra Santa Healing House spa. In the meantime, residents-only wellness and social amenities are open throughout One High Line.
The week's top co-op contract and fifth-highest overall was the ninth floor of the Warren & Wetmore-designed 927 Fifth Avenue, which was asking $25,950,000. The apartment was once owned by Harry Winston, jeweler to the stars and former owner of the Hope Diamond. The listing notes that Mr. Winston, who was known to walk around New York with priceless jewels in his pocket, likely appreciated the building's high level of security and privacy.
The apartment was initially listed for $39.5 million in October 2019, and the price slowly but steadily decreased over time. The buyer was not identified, but notable residents of 927 Fifth Avenue have included actor/director Mary Tyler Moore and fashion designer Kenneth Cole. Red-tailed hawk Pale Male was another resident, albeit an unofficial one who built a nest with his mate in the facade of the building.
The apartment was initially listed for $39.5 million in October 2019, and the price slowly but steadily decreased over time. The buyer was not identified, but notable residents of 927 Fifth Avenue have included actor/director Mary Tyler Moore and fashion designer Kenneth Cole. Red-tailed hawk Pale Male was another resident, albeit an unofficial one who built a nest with his mate in the facade of the building.
On the opposite side of Central Park, two contracts totaling $12,600,000 were signed at 50 West 66th Street, the tallest building on the Upper West Side. They included Residence #6E, which had the week's tenth-highest contract with an asking price of $7,100,000.
Both residences are located in the House portion of the building, where apartments are designed to reflect prewar elegance. When the building is complete, residents will have access to amenities like a basketball/pickleball court, an indoor saltwater lap pool and spa, a state-of-the-art fitness center, and a 20th-story sun deck with outdoor pool, fire pit, and lounge area. They will also enjoy close proximity to Central Park, Lincoln Center, and Michelin-starred restaurants in Columbus Circle.
Both residences are located in the House portion of the building, where apartments are designed to reflect prewar elegance. When the building is complete, residents will have access to amenities like a basketball/pickleball court, an indoor saltwater lap pool and spa, a state-of-the-art fitness center, and a 20th-story sun deck with outdoor pool, fire pit, and lounge area. They will also enjoy close proximity to Central Park, Lincoln Center, and Michelin-starred restaurants in Columbus Circle.
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#10. 50 West 66th Street, #6E
Last Ask: $7,100,000
Central Park West | Condominium | 3 Bedrooms, 3.5 Baths | 2,488 ft2
50 West 66th Street, #6E (Douglas Elliman Real Estate)
#9. 35 Hudson Yards, #8502
Last Ask: $7,925,000
Midtown West | Condominium | 3 Bedrooms, 3.5 Baths | 2,656 ft2
35 Hudson Yards, #8502 (Corcoran Sunshine Marketing Group)
#7. 32 East 22nd Street, #TH
Last Ask: $12,850,000
Flatiron/Union Square | Townhouse | 6+ Bedrooms, 6+ Baths | 8,900 ft2
32 East 22nd Street, #TH (Douglas Elliman Real Estate)
#6. 65 Central Park West, #PHNORTH
Last Ask: $16,500,000
Central Park West | Cooperative | 4 Bedrooms, 5 Baths
65 Central Park West, #PHNORTH (Serhant LLC)
#5. 927 Fifth Avenue, #9thFloor
Last Ask: $25,950,000 (-34.3%)
Park/Fifth Ave. to 79th St. | Cooperative | 6+ Bedrooms, 5 Baths | 5,740 ft2
927 Fifth Avenue, #9thFloor (Sothebys International Realty)
#4. One High Line, #EASTPH25A
Last Ask: $28,000,000
Chelsea | Condominium | 4 Bedrooms, 4.5 Baths | 5,422 ft2
One High Line, #EASTPH25A (Corcoran Sunshine Marketing Group)
#3. The Greenwich Lane, #PH8
Last Ask: $32,000,000
Greenwich Village | Condominium | 3 Bedrooms, 3.5 Baths | 4,027 ft2
The Greenwich Lane, #PH8 (Corcoran Group)
#2. 12 East 79th Street, #TH
Last Ask: $36,000,000
Park/Fifth Ave. to 79th St. | Townhouse | 6+ Bedrooms, 6+ Baths | 16,000 ft2
12 East 79th Street, #TH (Douglas Elliman Real Estate)
#1. Central Park Tower, #39B
Last Ask: $59,000,000 (-21.3%)
Midtown West | Condominium | 5 Bedrooms, 5.5 Baths | 7,587 ft2
Central Park Tower, #39B (Douglas Elliman Real Estate)
Would you like to tour any of these properties?
Just complete the info below.
Or call us at (212) 755-5544
Would you like to tour any of these properties?
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