Billionaires Row, home of some of the past week's top sales
Before a certain stretch of West 57th Street became known as Billionaires' Row, a number of high-priced sales in buildings still under construction dominated the headlines. Some of these purchases would later be revealed as the investment properties of wealthy international buyers who intended to use the apartments as safe havens; as a result, the units sat empty, drove citywide prices up, and didn't generate any additional tax revenue.
More recently, in the wake of Russia's invasion of Ukraine, increased attention has been drawn to Russian luxury buyers and their Manhattan properties. Many of today's Russian oligarchs became wealthy through their ties to Russian President Vladimir Putin; as a result, many have been hit with sanctions from governments all over the world that include travel bans, the freezing of assets, and the seizure of other assets like yachts, private jets, and luxury properties.
New York officials, however, are full of ideas for taking it one step further. Manhattan Borough President Mark Levine once called for seizing the Manhattan properties of Russian oligarchs; barring that, he proposed adding the names of oligarchs’ family members and other connections to sanctions lists. At the state level, a bill currently in committee calls for limited liability corporations (LLCs) to disclose the names and addresses of their beneficial owners to the New York Department of State; in doing so, it would shine a light on who’s actually buying these properties.
More recently, in the wake of Russia's invasion of Ukraine, increased attention has been drawn to Russian luxury buyers and their Manhattan properties. Many of today's Russian oligarchs became wealthy through their ties to Russian President Vladimir Putin; as a result, many have been hit with sanctions from governments all over the world that include travel bans, the freezing of assets, and the seizure of other assets like yachts, private jets, and luxury properties.
New York officials, however, are full of ideas for taking it one step further. Manhattan Borough President Mark Levine once called for seizing the Manhattan properties of Russian oligarchs; barring that, he proposed adding the names of oligarchs’ family members and other connections to sanctions lists. At the state level, a bill currently in committee calls for limited liability corporations (LLCs) to disclose the names and addresses of their beneficial owners to the New York Department of State; in doing so, it would shine a light on who’s actually buying these properties.
The U.S. Treasury's Office of Foreign Assets Control recently issued a new round of sanctions against oligarchs and known Putin supporters, including immediate family members of Putin's spokesman. Meanwhile, a number of Russian property owners are not waiting to see how sanctions will play out. Some have publicly listed their Manhattan real estate, while others are turning to whisper listings to quietly offload properties. Power broker Dolly Lenz told Fox Business that in the past week, her firm received calls from Russian clients looking to quietly list between 50 and 70 Manhattan properties. The majority of these are situated along Billionaires’ Row.
While the buyers and sellers of all of last week's top recorded sales were identified only through LLCs, we can say with certainty that the majority took place along Billionaires' Row. The top sale was a sponsor listing at Central Park Tower that closed for $18,377,750, or 17.8 percent below the initial asking price of $22.37 million. The 3-bedroom, 3.5-bath unit offers gracious living space and sweeping views of Central Park. Listings in One Beacon Court and One57, more established buildings along and on Billionaires' Row, rounded out the top three sales.
While the buyers and sellers of all of last week's top recorded sales were identified only through LLCs, we can say with certainty that the majority took place along Billionaires' Row. The top sale was a sponsor listing at Central Park Tower that closed for $18,377,750, or 17.8 percent below the initial asking price of $22.37 million. The 3-bedroom, 3.5-bath unit offers gracious living space and sweeping views of Central Park. Listings in One Beacon Court and One57, more established buildings along and on Billionaires' Row, rounded out the top three sales.
In this article:
Manhattan Sales:
- In the second week of March 2022, a total of 285 condo, co-op, and condop sales were recorded in Manhattan
- The aggregate total of sales was $582,457,046
- 153 condo sales came to a median price of $1.6 million ($1,566 per square foot)
- Seven condop sales came to a median price of $795K
- 125 co-op sales came to a median price of $865K
Central Park Tower (Douglas Elliman)
One Beacon Court
One Beacon Court, #PH53W (Brown Harris Stevens)
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From the Listing:
With over 2,500 square feet of windows offering uninterrupted north, west, and south exposures, this penthouse has one of the more impressive views ever to hit the market. The north side of this expansive residence has a large loft-like corner living-room with open dining area. This 34-foot x 34-foot room is the perfect place to unwind while enjoying the spectacular endless views of the entire upper half of Manhattan Island. The dining area leads to an eat-in kitchen with all the expected state-of-the-art appliances.
With over 2,500 square feet of windows offering uninterrupted north, west, and south exposures, this penthouse has one of the more impressive views ever to hit the market. The north side of this expansive residence has a large loft-like corner living-room with open dining area. This 34-foot x 34-foot room is the perfect place to unwind while enjoying the spectacular endless views of the entire upper half of Manhattan Island. The dining area leads to an eat-in kitchen with all the expected state-of-the-art appliances.
From the Listing:
Featuring one of the most unique and tasteful floor plans of any residence on Billionaire’s Row, One57, Residence 45A is an impressive 3,228 square foot, three-bedroom, three-and-a-half-bath home that epitomizes glamorous living at One57. Designed by Thomas Juul Hansen, the home features luxurious touches throughout. The foyer, the corner great room houses the open living and dining area that is further highlighted by ceilings almost 12 feet high and 39 linear feet of picturesque Central Park views.
Featuring one of the most unique and tasteful floor plans of any residence on Billionaire’s Row, One57, Residence 45A is an impressive 3,228 square foot, three-bedroom, three-and-a-half-bath home that epitomizes glamorous living at One57. Designed by Thomas Juul Hansen, the home features luxurious touches throughout. The foyer, the corner great room houses the open living and dining area that is further highlighted by ceilings almost 12 feet high and 39 linear feet of picturesque Central Park views.
Sterling Mason (Compass)
From the Listing:
The Sterling Mason was designed by noted architect Morris Adjmi, with interiors by Gochot Studios, and the private central viewing garden was created by celebrated landscape designer Deborah Nevins. This home was brilliantly crafted throughout the loft's 3,708 square feet with 11' and 12' ceilings and huge windows offering tremendous light and air. Enter the foyer and continue into the majestic center gallery. Ideally anchored in the entrance is the guest powder room and custom walk-in guest closet. As you proceed to the left of this home an imposing entertaining space will unfold. The Great Room is adorned with six enormous windows showcasing river views to the west and Laight Street to the north.
The Sterling Mason was designed by noted architect Morris Adjmi, with interiors by Gochot Studios, and the private central viewing garden was created by celebrated landscape designer Deborah Nevins. This home was brilliantly crafted throughout the loft's 3,708 square feet with 11' and 12' ceilings and huge windows offering tremendous light and air. Enter the foyer and continue into the majestic center gallery. Ideally anchored in the entrance is the guest powder room and custom walk-in guest closet. As you proceed to the left of this home an imposing entertaining space will unfold. The Great Room is adorned with six enormous windows showcasing river views to the west and Laight Street to the north.
1 Available Listing for Sale for $12.4M
Park House (Corcoran)
From the Listing:
The elevator door opens directly into Residence 6A, a full private floor, that features a gracious entry gallery with an enormous coat closet that leads you to the very large living/dining room featuring 45 feet of park-facing frontage and a fireplace as another focal point. The humanly scaled, protected park views are truly inspiring and also reveal impressive skyline exposures in the distance. The semi-open chef’s kitchen can be closed off with large pocket doors and features Bulthaup cabinetry, natural aluminum full height cabinets, and Alpine white matte lacquer under-counter cabinetry. An oak island appears as a piece of furniture.
The elevator door opens directly into Residence 6A, a full private floor, that features a gracious entry gallery with an enormous coat closet that leads you to the very large living/dining room featuring 45 feet of park-facing frontage and a fireplace as another focal point. The humanly scaled, protected park views are truly inspiring and also reveal impressive skyline exposures in the distance. The semi-open chef’s kitchen can be closed off with large pocket doors and features Bulthaup cabinetry, natural aluminum full height cabinets, and Alpine white matte lacquer under-counter cabinetry. An oak island appears as a piece of furniture.
4 Available Listings for Sale from $2.5M
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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