Manhattan’s supertall luxury towers brought some eye-popping sales to an otherwise unimpressive week for the borough’s high-end real estate market, according to the Olshan Report on Monday.
Overall, 19 homes priced over $4 million went into contract in the week ending Sunday, said the weekly report on new pending sales from Olshan Realty. While the city is still feeling the usual summer slowdown in activity, a single pending sale at One57 asking $44 million gave last week’s figures a bit of lift.
Pending sales totaled $172 million in the week ending Sunday, a 65% increase from the previous week.
The most expensive sale was a four-bedroom condo on the 77th floor of One57 along the southern edge of Central Park, which the seller from Europe had been using as a $44 million pied-a-terre, Mansion Global previously reported.
While it went into contract at a significant price, the sale epitomizes the slowdown in Manhattan’s luxury market. The seller originally listed the home a year and a half ago for $52 million and is now unloading it for a loss. The owner paid $47.8 million for the unit in 2015, about 8% more than he’s asking now.
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The home spans more than 6,200 square feet with sweeping views over New York City and a laundry list of in-building amenities, including room service from the five-star Park Hyatt downstairs, a theater and library lounge.
The second most expensive contract last week was a corner unit at 432 Park Avenue, another luxury residential skyscraper, which soars more than 1,500 feet.
The 40th-floor unit is asking roughly $17 million with 3,575 square feet of living space, three bedrooms and three-and-a-half bathrooms.