From May 27 to June 2, 2024, the number of signed Manhattan contracts was flat compared to the prior week. It must be noted that the Memorial Day holiday fell during this time, thus abbreviating the business week, and May 2024 was ultimately the best month in terms of contracts signed since May 2023. However, the number of signed contracts was down 9% since May 2023 and down 21% from May 2022, a time of low interest rates. Additionally, inventory has gone up in recent weeks, giving buyers on the sidelines a wider range of choices.
As May 2024 gave way to June, new and recent development condominiums put on a respectable showing among the highest-priced luxury contracts. The week's top contract was for the fifth-floor home at The Giorgio Armani Residences, which was asking an even $25,000,000. Located above the Giorgio Armani flagship store on Madison Avenue, it features interiors by Giorgio Armani, a corner living with a fireplace, a formal dining room off the chef's kitchen, a luxe primary suite with dressing room and windowed bath, and a private balcony off the living room. The contract comes approximately nine months since sales quietly launched, and brings the building to 70% sold. The remaining availabilities include a duplex penthouse for $32,500,000.
In this article:
It was closely trailed by Residence #17CD at 50 West 66th Street, a combination of two units in the forthcoming building asking $24,950,000. This 7,112-square-foot home features six bedrooms, six full baths, two powder rooms, triple exposures, ceilings up to 12'8" high, and high-end finishes and appliances throughout.
The contract was signed shortly after construction topped out on 50 West 66th Street, the tallest building on the Upper West Side. Indeed, the past week was a good one for Manhattan's tallest buildings. A high-floor home at One Central Park, a residential component of the towering Deutsche Bank Center, had the week's fourth-highest contract with an asking price of $21,995,000. A short distance away at Central Park Tower, the tallest residential building in the world, had the fifth-highest asking price at $18,500,000.
Also of note last week, the Upper East Side home of Academy Award-winning actress Joan Fontaine entered contract with an asking price of $6,950,000 in the tenth-highest of the week. Ms. Fontaine lived in the uber-exclusive 160 East 72nd Street from the late 1970s into the 1980s, during which time she entertained in the expansive space and brought the library's beams, fireplace, and paneling from a European monastery. It has been meticulously renovated since Ms. Fontaine's departure, and has been on and off the market since it was initially listed for $8.95 million in 2013.
Would you like to tour any of these properties?
Just complete the info below.
Or call us at (212) 755-5544
#10. 160 East 72nd Street, #5FL
Last Ask: $6,950,000
Lenox Hill | Cooperative | 4 Bedrooms, 4.5 Baths
160 East 72nd Street, #5FL (Brown Harris Stevens Residential Sales LLC)
#9. The Yosemite, #3E
Last Ask: $7,750,000
Park/Fifth Ave. to 79th St. | Cooperative | 4 Bedrooms, 3.5 Baths | 4,480 ft2
The Yosemite, #3E (Brown Harris Stevens Residential Sales LLC)
#8. 1175 Park Avenue, #9A
Last Ask: $12,500,000 (-8.8%)
Carnegie Hill | Cooperative | 5 Bedrooms, 4.5 Baths | 4,400 ft2
1175 Park Avenue, #9A (Sloane Square LLC)
#7. 117 East 72nd Street, #6FL
Last Ask: $14,000,000
Park/Fifth Ave. to 79th St. | Cooperative | 6+ Bedrooms, 4.5 Baths
117 East 72nd Street, #6FL (Brown Harris Stevens Residential Sales LLC)
#5. Central Park Tower, #78W
Last Ask: $18,500,000
Midtown West | Condominium | 3 Bedrooms, 4 Baths | 3,073 ft2
Central Park Tower, #78W (Extell Marketing Group LLC)
#4. One Central Park, #75A
Last Ask: $21,995,000
Central Park West | Condominium | 4 Bedrooms, 5.5 Baths | 3,923 ft2
One Central Park, #75A (Compass)
#3. 52 East 66th Street, #TH
Last Ask: $24,500,000
Park/Fifth Ave. to 79th St. | Townhouse | 6+ Bedrooms, 6+ Baths | 8,400 ft2
52 East 66th Street, #NA (Corcoran Group)
#2. 50 West 66th Street, #17CD
Last Ask: $24,950,000
Central Park West | Condominium | 6+ Bedrooms, 6+ Baths | 7,112 ft2
50 West 66th Street, #17CD (Douglas Elliman Real Estate)
#1. The Giorgio Armani Residences, #5
Last Ask: $25,000,000
Park/Fifth Ave. to 79th St. | Condominium | 4 Bedrooms, 4.5 Baths | 4,869 ft2
The Giorgio Armani Residences, #5 (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?