Trump Tower bargains propel $358M in Manhattan contracts; Midtown East condos surge amid office tower promises

By CityRealty Staff | From Future New York Monday, August 5, 2024

Despite a massive price reduction, this high-floor home at Trump Tower had Manhattan's top apartment contract of the week (Trump Organization)

As July 2024 gave way to August, the number of Manhattan contracts signed increased by 9% week-over-week. However, owing to fewer luxury deals signed as compared to the prior week, the median asking price dipped during this time as a flurry of less expensive units entered contract after spending less time on the market than their uber-luxury counterparts.

Trailing two townhouse contracts in the lead positions, Manhattan's apartment contracts were led by heavily discounted units in Trump Tower. Residence #61L was initially listed for $18 million in February 2018, or roughly a year into the former president's term; it has been on and off the market at gradually lower price points ever since, and ultimately entered contract with an asking price of $6,995,000. Public records indicate that the unidentified seller is poised to take a heavy loss, having bought the apartment for $14.3 million in August 2013.

The deep discount notwithstanding, the Trump Tower unit nevertheless tied for the week's top apartment contract and third-highest overall with Residence #13B at the Rosario Candela-designed 955 Fifth Avenue, which was also asking $6,995,000 in the top co-op contract of the week. This seller, too, will likely take a loss, but not nearly as deep, having paid $9,400,000 for it in October 2013.

A few stories down at Trump Tower, Residence #48/49D was not far behind with an asking price of $6,900,000 in the fourth-highest contract of the week. This, too, represents a price reduction, though not as deep as its upstairs neighbor. It was initially listed for $9 million in June 2019 and entered contract in early March 2020, only to return to the market days later, shortly after New York went on lockdown; it has been on and off the market ever since. It is not clear how much the seller paid for it.

Also like its upstairs neighbor, this Trump Tower unit tied for its rank in the top ten contracts of the week. Residence #11A at Tribeca's River Lofts also entered contract with an asking price of $6,900,000 last week. This unit has been on and off both the sales and rental markets since 2015; and, if it sells for the asking price, the unidentified seller will make a generous profit, having bought it for $3,207,487 in September 2005 (per public records).

A half-dozen new commercial prospects are planned in Midtown East include 175 Park Avenue rendered above (RXR Realty)

Beyond Trump Tower, it was a good week for new development condos in Midtown East. A total of $10,195,000 across four contracts was signed at Sutton Tower, the tallest building in Sutton Place. These one- and two-bedroom units benefit from expansive East River and Manhattan skyline views, interiors by Thomas Juul-Hansen, five floors of private wellness and social amenities, and a peaceful address with easy access to both Midtown East and the Upper East Side.

To the west, three contracts were signed at Monogram, a new building with an Art Deco-inspired crown, interiors with clean lines and high-end finishes, and a modern amenity suite. However, the greatest perk may be its proximity to Midtown East offices: One Vanderbilt opened to great aplomb in September 2020; work is underway on JPMorgan Chase's new headquarters at 270 Park Avenue in preparation for a planned 2025 opening; and a new crop of announced Midtown East office towers includes 175 Park Avenue, 350 Park Avenue, Louis Vuitton Tower at 1 East 67th Street, Rolex Tower at 665 Fifth Avenue, 415 Madison Avenue, 343 Madison Avenue, and 415 Park Avenue.

Park Avenue during summer streets this past Saturday

Enlarge Image

A sepia photo from the 1920s captures the Park Avenue median before it was consumed by car traffic. Photo: DOT. via Streetsblog.org

Enlarge Image

Base of J.P. Morgan's new headquarters at 270 Park Avenue

Enlarge Image

Construction continues at the Waldorf-Astoria

Enlarge Image

Cleared site of a new office tower planned at 415 Park Avenue by GDSNY and Corem

Enlarge Image

Modernist office towers and 432 Park Avenue

Enlarge Image

In addition to the new towers on the horizon, the Department of Transportation is working on a plan to reinvent the malls dividing Park Avenue between East 42nd and 57th Streets. Bloomberg notes that they were last renovated in the late 1920s, when they were narrowed to accommodate more cars. Nearly 100 years later, the car-free Summer Streets has become a beloved summer tradition, and the Department of Transportation has announced plans to double the width of the malls to allow for more greenery, a move that would leave less room for cars by default. One of the biggest woes of Midtown East is its lack of parkland to offset its high building density, but this plan could create a more enjoyable streetscape for residents and employees alike.

Would you like to tour any of these properties?

Just complete the info below.

Or call us at (212) 755-5544

#10. Ansonia on 12th Street, #PHE
Last Ask: $4,100,000

Park Slope | Condominium | 4 Bedrooms, 3 Baths | 2,420 ft²

Ansonia on 12th Street, #PHE (Corcoran Group)

From the Listing: The crown jewel of the Ansonia! Perched on the 7th floor, this special townhome-sized property has three expansive exposures with exceptional Lady Liberty vistas. Cinematic light all day long from the morning eastern light, the sunny south and the western golden hour with sunsets galore. The highlight and heart of this home is the restaurant-style chef's kitchen and inviting breakfast bar that seats up to 10 people! The dining area is adorned by a wood-burning fireplace and adjacent to the fantastic outdoor space with its own elaborate outdoor kitchen and grill and breathtaking water and rooftop views. See floor plan and full details here.

Ansonia on 12th Street has 1 public availability asking $1,795,000.

#9. 66 Reade Street, #TH
Last Ask: $4,500,000

Tribeca | Condominium | 3 Bedrooms, 3.5 Baths | 3,622 ft²

66 Reade Street, #TH (Compass)

From the Listing: The exquisite townhouse is the last remaining loft in the remarkable transformation of one of Tribeca’s landmarked Italianate cast-iron jewels into a boutique luxury condominium. Enter through your private street entrance into an elegant foyer which opens again to reveal a home only Manhattan can deliver. The authentic loft greets your arrival with a room of impressive proportions, nearly 60 feet long. The outstanding features include soaring ceilings reaching 14 feet high, gleaming wide-plank white oak floors, oversized windows, a stunning exposed brick wall, sophisticated Lutron lighting, perfect for illuminating artwork hung on the expansive walls, remote-controlled shades, and Nest smart Thermostats. See floor plan and full details here.

66 Reade Street has no public availabilities.

#8. 240 East 33rd Street, #TH
Last Ask: $4,695,000

Murray Hill | Townhouse | 4 Bedrooms, 5.5 Baths | 5,688 ft²

240 East 33rd Street, #TH (Brown Harris Stevens Residential Sales LLC)

From the Listing: The Boston ivy beckons you into this charming, four-story, 1901 Kips Bay townhouse. Approximately 5,688 square feet, it is currently configured as a mixed use property, featuring approximately 1500 square feet of medical office or store space on the 1st floor and a residential triplex above. Many architectural details remain from its previous incarnations as a multi-unit building, and all have been lovingly maintained. Upstairs, under the graceful arches and soaring ceilings of the residential triplex, tranquil, sunny rooms in which to gather abound, along with gracious bedrooms, an office, a dressing room, three gorgeous art deco bathrooms (as well as a more modern one!) and a laundry/utility room, adapted from a previous kitchen. See floor plan and full details here.

#7 (tie). The Four Seasons Private Residences, #72C
Last Ask: $4,995,000

Tribeca | Condominium | 3 Bedrooms, 3 Baths | 1,815 ft²

The Four Seasons Private Residences, #72C (Compass)

From the Listing: Perched on the 72nd floor, this beautifully appointed 3-bedroom, 3-bathroom corner residence showcases sweeping river and city views. The ideal layout offers a well-proportioned living/dining room with a bay window and separate bedroom wings. The primary bedroom suite is situated on the west side of the apartment and boasts a walk-in closet and 5-fixture marble bathroom with dual vanities. The top-of-the-line kitchen features Bilotta rift-cut oak kitchen cabinetry and Gaggenau appliances. See floor plan and full details here.

The Four Seasons Private Residences has 13 public availabilities from $1,125,000.

#7 (tie). 830 Park Avenue, #MAISA
Last Ask: $4,995,000 (-15.3%)

Park/Fifth Ave. to 79th St. | Cooperative | 4 Bedrooms, 3 Baths

830 Park Avenue, #MAISA (Douglas Elliman Real Estate)

From the Listing: Featuring its own Park Avenue entrance, this elegantly proportioned residence combines the privacy of a townhouse with the amenities of a classic apartment building. Newly renovated down to the studs and designed by acclaimed architect Heather Faulding of 4+ Architecture & Design, Maisonette A contains nothing less than a world unto itself. Accessed through an elevated neo-classical portal, the 36' wide principal floor features a majestic formal salon, replete with chevron French oak doors, 9'8" ceilings and Park Avenue views. Designed for entertaining, a wet bar features a 48-bottle Miele wine refrigerator and ice maker, open glass backlit shelving and a recessed half-door for staff. A designer chef's kitchen with an eat-in dining peninsula is matched by a dining banquette that seats eight. A storage unit transfers with the property. See floor plan and full details here.

830 Park Avenue has 1 public availability asking $8,750,000.

#6. 450 Washington Street, #405
Last Ask: $5,995,000 (-6.2%)

Tribeca | Condop | 3 Bedrooms, 4 Baths | 2,338 ft²

450 Washington Street, #405 (Corcoran Sunshine Marketing Group)

From the Listing: Direct Hudson River views set a magical tone for Residence #405, a large three bedroom with a home office. Bask in the views of the Hudson River Park treetops, the dazzling views over the Hudson River, and stunning sunsets every day. On the building's southwest corner, the sunny layout includes a large great room with distinct living and dining spaces, a large kitchen and separate primary bedroom wing with pretty views of historic Tribeca architecture. The superb layout includes split bedroom suites, ample closets, large primary bedroom suite and a five-fixture bathroom. See floor plan and full details here.

450 Washington Street has 10 public availabilities from $870,000.

#5. The Astor, #1223
Last Ask: $6,250,000

Broadway Corridor | Condominium | 4 Bedrooms, 5.5 Baths | 2,936 ft²

The Astor, #1223 (Douglas Elliman Real Estate)

From the Listing: Welcome to The Astor! This extraordinary 2,936square foot 4-bedroom,4.5-bathroom home retains many of the refined details of its pre-war design. An entry gallery opens into a stunning sunlit south corner great room. The white lacquer and stained oak cabinetry is complemented by Calacatta Gold countertops and backsplash. An integrated suite of top-of-the-line appliances by Gaggenau, Miele and Sub-Zero complete the kitchen, including modern finishes by Pembrooke & Ives. A cozy library is situated off the living room to expand the exceptional living space. The generously proportioned primary bedroom suite features a large dressing area and an exquisite windowed primary bathroom. See floor plan and full details here.

The Astor has 7 public availabilities from $999,000.

#4 (tie). River Lofts, #11A
Last Ask: $6,900,000

Tribeca | Condominium | 3 Bedrooms, 4 Baths | 2,666 ft²

River Lofts, #11A (Corcoran Group)

From the Listing: Residence #11A is a sun-drenched 3-bedroom, 4-bathroom loft set within The River Lofts, one of the most coveted full-service condominiums in northwest Tribeca. This 2,666-square-foot home features South and west exposures offering breathtaking views of the Hudson River and the Statute of Liberty through 9 living room windows. Upon entering through the beautiful entry gallery outfitted with custom millwork, you are enveloped in endless views from the expansive living room which provides an incredible space for living and entertaining. The chef's eat-in kitchen is state-of-the-art. See floor plan and full details here.

River Lofts has no public availabilities.

#4 (tie). Trump Tower, #48/49D
Last Ask: $6,900,000 (-16.4%)

Midtown East | Condominium | 4 Bedrooms, 4.5 Baths | 3,316 ft²

Trump Tower, #48/49D (Douglas Elliman Real Estate)

From the Listing: Pristine 7-room duplex condo on high floor offering stunning views of Central Park and city skyline. The residence spans 3,316 square feet across 3 bedrooms, a library, formal dining room, eat-in-kitchen, 4 full bathrooms and 1 powder room. Enter through a gracious gallery with marble floor and cove lit ceiling to the corner living room with custom wet bar, built-ins and Central Park view. The well-appointed chef's kitchen with breakfast lounge and separate large windowed dining room has open city views to the north and east. See floor plan and full details here.

Trump Tower has 6 public availabilities from $1,495,000.

#3 (tie). 955 Fifth Avenue, #13B
Last Ask: $6,995,000 (-3.5%)

Park/Fifth Ave. to 79th St. | Cooperative | 3 Bedrooms, 4 Baths

955 Fifth Avenue, #13B (Brown Harris Stevens Residential Sales LLC)

From the Listing: Sweeping Park and city views from each of eight voluminous rooms at 955 Fifth Avenue! Grand rooms, huge picture windows and 9'+ ceilings breathe spaciousness and light throughout. Enjoy treasured Central Park views from any of three major rooms including a fireside living room plus two primary sized bedroom suites, one with a wood-burning fireplace. The kitchen features a Bertazzoni 6-burner stove, a hood range that vents out, a Miele convection oven and Miele dishwasher. See floor plan and full details here.

955 Fifth Avenue has no public availabilities.

#3 (tie). Trump Tower, #61L
Last Ask: $6,995,000

Midtown East | Condominium | 3 Bedrooms, 2.5 Baths | 2,510 ft²

Trump Tower, #61L (Keller Williams NYC)

From the Listing: Situated on the 61st floor this apartment affords spectacular panoramic views of Central Park to the north, sweeping west to the Hudson River and then south to feature views of Manhattan's most iconic buildings. With the backdrop of stunning views in every room, this magnificently renovated apartment is at once light, open and airy but quietly underscored by the elegance and richness of the highest quality marble, stone and wood finishes interpreted by the finest craftsmen. As you enter the understated foyer you are drawn forward into the subtly detailed grand corner living and entertaining space comprised of a large gallery, the living and dining room with three breathtaking exposures complemented by a wet bar with glass and enclosed cabinetry, and an open chef's kitchen with top-of-the line appliances. See floor plan and full details here.

Trump Tower has 6 public availabilities from $1,495,000.

#2. 10 East 82nd Street, #TH
Last Ask: $11,500,000 (-8%)

Carnegie Hill | Townhouse | 6+ Bedrooms, 6+ Baths | 5,737 ft²

10 East 82nd Street, #TH (Compass)

From the Listing: Situated on the south side of the street on a block with some of the Upper East Side's finest townhouse architecture, 10 East 82nd Street is for sale for the first time in generations. The home is 19.5' wide and sits on a 102.5' lot. It is currently 5,737 square feet above grade but enjoys another 2,200+ square feet of unused air rights, if a purchaser wanted to expand back and up, with Landmarks approvals. The home is entered under an iron awning at garden level, where there is a large chef's kitchen, butler's pantry, and dining room with fireplace, leading into the extra-deep garden. The parlor floor is fully for entertaining, and has two fireplaces, gorgeous arched northern-facing windows, and incredible ceiling height up to 12'2''. See floor plan and full details here.

#1. 31 Grove Street, #TH
Last Ask: $15,295,000 (-10%)

West Village | Townhouse | 5 Bedrooms, 4.5 Baths | 4,230 ft²

31 Grove Street, #TH (Douglas Elliman Real Estate)

From the Listing: Historic 19th-century bones meet sleek modernism in this masterfully renovated West Village townhouse. Carefully rebuilt in 2002 and fully renovated in 2018, this 21-foot-wide, 4,230-square-foot residence offers a historically accurate façade and a three-story modern wall of windows overlooking a lush garden in the rear. Inside, high ceilings with integrated speakers and recessed lighting soar above hardwood floors and gallery walls finished with stunning shadow-reveal details. The open plan parlor level flows from a welcoming living room with a wood-burning fireplace and a new powder room to the beautifully reimagined open gourmet kitchen and dining area highlighted by dramatic treetop views. See floor plan and full details here.

Would you like to tour any of these properties?

This is your member's center

In this article:

Select which properties are of interest to you:

#10. Ansonia on 12th Street, #PHE
Last Ask: $4,100,000

Ansonia on 12th Street has 1 public availability asking $1,795,000.

#9. 66 Reade Street, #TH
Last Ask: $4,500,000

66 Reade Street has no public availabilities.

#8. 240 East 33rd Street, #TH
Last Ask: $4,695,000

#7 (tie). The Four Seasons Private Residences, #72C
Last Ask: $4,995,000

The Four Seasons Private Residences has 13 public availabilities from $1,125,000.

#7 (tie). 830 Park Avenue, #MAISA
Last Ask: $4,995,000 (-15.3%)

830 Park Avenue has 1 public availability asking $8,750,000.

#6. 450 Washington Street, #405
Last Ask: $5,995,000 (-6.2%)

450 Washington Street has 10 public availabilities from $870,000.

#5. The Astor, #1223
Last Ask: $6,250,000

The Astor has 7 public availabilities from $999,000.

#4 (tie). River Lofts, #11A
Last Ask: $6,900,000

River Lofts has no public availabilities.

#4 (tie). Trump Tower, #48/49D
Last Ask: $6,900,000 (-16.4%)

Trump Tower has 6 public availabilities from $1,495,000.

#3 (tie). 955 Fifth Avenue, #13B
Last Ask: $6,995,000 (-3.5%)

955 Fifth Avenue has no public availabilities.

#3 (tie). Trump Tower, #61L
Last Ask: $6,995,000

Trump Tower has 6 public availabilities from $1,495,000.

#2. 10 East 82nd Street, #TH
Last Ask: $11,500,000 (-8%)

#1. 31 Grove Street, #TH
Last Ask: $15,295,000 (-10%)

This is your member's center

In this article:

Select which properties are of interest to you:

Select which properties are of interest to you:

Listings in this article

Tags:

Related Articles

Buy & Sell

Rent

Buildings

Insights

Company