CityRealty's Q4 2021 Manhattan Residential Market Report
The Manhattan residential market ended 2021 on a high note as the fourth quarter posted the highest total dollar amount of residential sales on record. The average sale price for Manhattan* apartments rose 8% when compared to the fourth quarter of 2020. The average sale price for all residential units, excluding townhouses, was $2.05 million, up from $1.89 million in Q4 2020. The average sale price of a condo was $2.88 million and the average price of a co-op was $1.32 million.
Year-over-year, the count of Manhattan apartment deals was up a remarkable 94%, with 3,945 deals this quarter compared to the 2,041 deals during the more dismal days of the pandemic. In total, there were 1,844 condo sales, 2,013 co-op sales, and 83 condop sales.
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In the fourth quarter of 2021, there were $5.3 billion in condo sales in Manhattan, down 7% since the record-breaking 3rd quarter and up 108% year-over-year. The average condo PPSF during the approximately 90-day period was $1,806, up 3% since the third quarter and up 7% from the same quarterly period in 2020. Condo prices are now on par with pre-pandemic figures but 6% below 2016's record prices. With 1,844 condo transactions, Q4 2021 was the highest number of fourth-quarter deals on record.
Top Residential Sales of Q4 2021
443 Greenwich Street, #PHH and Lewis Hamilton (By Morio - Own work, CC BY-SA 4.0, https://commons.wikimedia.org/w/index.php?curid=52060566)
Reflecting a significant departure from past quarters, in Q4 2021, more than half of the 30 priciest apartment deals came from downtown condo buildings instead of from high-rises overlooking Central Park. The biggest sale was a triplex penthouse at 443 Greenwich Street in TriBeCa sold by British racecar driver and Formula One champion, Lewis Hamilton. Measuring nearly 9,000 square feet, the three-floor home has six bedrooms, up to 20’ soaring ceilings, multiple terraces, two dedicated parking spaces, and an outdoor plunge pool.
The second-highest sale came in from a triplex penthouse atop SoHo's Tulip Building at 421 Broome Street. The sprawling 8,000-square-foot home was the highest price ever paid for an apartment in SoHo, a record the same unit set in October 2020. November 2021's $49 million sale was 40 percent higher than the $35 million price it sold for a year earlier. According to the New York Times, former owner David Matlin and his wife, Lisa Matlin, spent four years gut-renovating the unit into a vertical mansion.
Rounding out the top three is another downtown penthouse, this time atop the Herzog de Meuron-designed 56 Leonard Street in Tribeca. Closed in November for $45 million, the duplex spans nearly 7,800 square feet and has four bedrooms, several terraces, and floor-to-ceiling windows with breathtaking views of the city, river, and harbor.
Top-Selling Buildings of Q4 2021
In Q4 2021, there were 3,945 residential condo, co-op, and condop deals aggregating to $8.1 billion, up a significant 94% Y-O-Y.
The residential building that tallied the most sales by total dollar amount was the newly-opened High Line condo Lantern House
which saw $157 million worth of deals across 43 deals. Celebrity magnet 443 Greenwich Street
and the world's tallest residential Central Park Tower
rounded out the top three. With few remaining availabilities, 220 Central Park South
fell to number 10 but continued to garner the highest price/ft2 overall.
220 Central Park South via Vornado Realty Trust
All images of 220 Central Park South via Modlin Group
From the Listing: This 3-bedroom, 3.5-bath residence on the 37th floor of 220 Central Park South spans a total of 3,043 square feet with remarkable views of Central Park and Manhattan from north, south, and east exposures creating incredible light that pours through the home. The gallery of the home leads to an expansive 36' x 18' corner living room and dining room with northern and eastern exposures with sweeping Central Park views. A windowed corner eat-in kitchen overlooks Central Park and features a large marble center-island, herringbone floors, custom millwork, and marble countertops with glass and chrome cabinetry. The primary suite offers never ending views of Central Park and a bath clad in black and white marble, a soaking tub by Jacob Delafon, fixtures by Lefroy Brooks, heated floors, steam shower, and water closet. There are shades installed throughout the home, blackout in the bedrooms. Fully furnished! See floor plan and full details here.
601 Washington Street via Douglas Elliman
All images of 601 Washington Street via Douglas Elliman
From the Listing: This impeccable half floor corner 3-bedroom, 3.5-bathroom residence balances modern and contemporary luxury design over its extensive 2,892 square feet, seizing the sunny south, west, and east exposures on the quintessential cobblestone streets of the West Village. Residence 5W's exceptional features include a complete lighting package designed by David Clinard Design Studio, Lutron lighting and shade control system, 7-inch wide-plank white oak flooring and fully ventilated Double LG washer and dryers. Floors, walls, and windows have been acoustically engineered to create a haven for peace and quiet. As you enter, you are welcomed into a formal entry gallery with beautifully appointed herringbone white oak floors. Masterfully designed, the open corner great room seamlessly flows past the custom SieMatic chef's kitchen. See floor plan and full details here.
56 Leonard Street via Compass
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All images of 56 Leonard Street via Corcoran
From the Listing: Residence 17B-EAST is a 4-bedroom, 4.5-bathroom home that has been completely customized with an added home office with built-in cabinetry, California closets through-out, custom additional pantry with entryway bench, custom storage added in the bathrooms and remote-control shades. This home is the perfect balance of form and function with custom interiors also designed by Herzog & de Meuron. A gracious foyer leads to an oversized corner living room with private balcony and architectural views of historic buildings and the Tribeca cityscape. The custom kitchen features a sculptural Absolute Black granite kitchen island and Corian countertops with seamlessly incorporated appliances including Sub-Zero refrigerator and separate wine cooler, Miele oven, six burner cooktop with fully-vented hood, and Miele dishwasher. See floor plan and full details here.
Two Waterline Square (Credit: Aaron Fedor)
All images of Two Waterline Square via Corcoran
From the Listing: This spacious and bright 2-bedroom,2.5-bathroom corner residence at Waterline Square provides a perfect space for entertaining. Featuring expansive views to the north and east, the living room offers floor-to-ceiling windows framing Hudson River views. The primary bedroom suite offers generous closet space and a five-fixture bathroom enhanced with radiant heated floors. The second bedroom enjoys two closets and an en-suite bathroom, and a powder room is conveniently located in the entry foyer. See floor plan and full details here.
130 William Street (Credit: Michael Kleinberg)
All images of 130 William via Corcoran
From the Listing: Developed by Lightstone, 130 William is designed by the ground-breaking visionary architect Sir David Adjaye, recipient of the 2021 Royal Gold Medal for Architecture. Residence 8F is a 2-bedroom, 2.5-bath home with approximately 10-foot ceilings and oversized arched windows. Interior finishes include wide-plank white oak flooring and oil rubbed bronze fixtures custom designed by Sir David Adjaye. The residence boasts an open kitchen with custom Pedini Italian textured blackened oak cabinetry, Salvatori Pietra Cardosa marble countertops and backsplash hand-selected from the Apuan Alps in Tuscany with a Salvatori Nero Marquina cantilever providing additional seating, and state-of-the-art appliances. The primary suite has a luxuriously appointed bathroom with textured Italian Bianco Carrara marble, a custom Pedini Italian millwork double vanity, an expansive shower, and radiant heated floors. See floor plan and full details here.
One Manhattan Square via Evan Joseph
All images of One Manhattan Square via Extell
From the Listing: Residence 11HD is a 1,123-square-foot 2-bedroom, 2-bath with an open gourmet kitchen and breakfast bar. This spacious corner residence faces southwest and southeast, with spectacular sunrise and sunset views overlooking New York Harbor, Manhattan and Brooklyn Bridges and One World Trade. Warm, modern interiors are brought to life by the renowned design team at Meyer Davis Studio. This residence features imported stone and custom finishes, premium Miele appliance package, 5" wide stained oak flooring, master bath with custom wood cabinetry, marble tile walls and mosaic floors with radiant heat, under-mount Wetstyle sink with glass vanity top and Dornbracht polished chrome faucets and a washer and dryer. One Manhattan Square offers one of the last 20-year tax abatements available in New York City. See floor plan and full details here.
200 Amsterdam via Binyan Studios
All images of 200 Amsterdam via Brown Harris Stevens
From the Listing: Wrapped in floor-to-ceiling windows, this sun soaked 1,769-square-foot, 2-bedroom, 2.5-bath condominium has an elegant layout with open city and river views and abundant natural light. The foyer, with a White Ice marble floor, leads to a striking corner Living and dining area with 10' ceilings, custom French white oak floors in a chevron pattern and floor-to-ceiling windows facing south and west. The open kitchen is a striking showpiece blending slabs of honed Calacatta marble with custom Italian made oak cabinetry and brushed nickel accents. A large waterfall edged center island provides seating for three. See floor plan and full details here.
Central Park Tower via Extell
All images of Central Park Tower via Douglas Elliman
From the Listing: This corner 3-bedroom, 3.5-bathroom home at Central Park Tower boasts a gracious and intelligent floor plan. This residence features north, south and west exposures and breathtaking views from an elevation of 328 feet. Soaring ceiling heights of 10'7" and floor-to-ceiling glass spanning the entire residence allow for an abundance of natural light throughout the home. The formal entry foyer and gallery lead to an expansive great room featuring both north and west facing views. This luxury residence is designed for grand entertaining with a large dining area and a gourmet kitchen with custom cabinetry by Smallbone of Devizes and premium Miele appliances. The bedroom layout provides for privacy and comfort with en-suite bathrooms as well as a separate powder room. See floor plan and full details here.
443 Greenwich Street
All images of 443 Greenwich Street via One and Only Realty
From the Listing: This four-bedroom, four-and-a-half bathroom, loft-style apartment combines a bright and modern design scheme with understated yet distinctive original details. Featuring exposures to the north and west, original exposed wooden beams and high ceilings lend a beautiful warmth and patina from the moment you enter and throughout the entire apartment. The open chef's kitchen is appointed with state-of-the-art appliances and Christopher Peacock custom cabinetry, with a Calacatta marble island that acts as a lovely counterpoint to the reclaimed wooden beams. All of the apartment's bedrooms feature large steel casement windows, recessed lighting, expansive closets, and natural oak hardwood flooring. See floor plan and full details here.
Lantern House via Related
All images of Lantern House via Corcoran
From the Listing: Dramatic three-dimensional bay windows are featured in every room at Lantern House offering charm, character and enhanced light and views keeping residents and their sense of home at the center of its design ethos. Residence #806 is an expansive 3-bedroom, 2.5-bath home offering south and east exposures and a corner terrace overlooking the tree-lined High Line Park. The gracious foyer and oversized great room lead to beautiful interiors that feature an open kitchen custom designed by March & White and including custom bronze finished trim and hardware, Gaggenau appliances including wine refrigeration, a custom suspended light fixture of bronze-finished metal and specialty glass, convex fluted oak cabinetry, Calacatta Venato marble slab countertops and backsplash, 5" wide plank French oak flooring, in-residence washer and dryer and ceiling heights of up to 10. The outdoor terrace is accessible via the great room, creating the perfect indoor/outdoor entertaining space. See floor plan and full details here.
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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