Twenty-one contracts were signed last week at $4 million and above in Manhattan, 4 more than the previous week--and the first time in a month that more than 20 contracts were signed. Condos outsold co-ops, 17-3, and 1 townhouse was in the mix.
Stat Geek Alert: Half of the apartments sold were by sponsors. In 2023, sponsor sales comprised 54% of the condos sold at $4 million and above.
The No. 1 contract was PH26 at 500 West 18th Street, asking $49,000,000, reduced from $65 million in 2018, when the building, known as the XI, started marketing; it subsequently landed in a spectacular $1 billion-plus foreclosure. The unit has 7,375 square feet including 5 bedrooms and 6.5 bathrooms with a wraparound terrace totaling 4,829 square feet. A 42’ x 50’ great room and a 24’ x 36’ family room/dining area open onto the terrace, which has Hudson River views.
By 2021, the XI was rebranded as One Highline under a new sponsor, Witkoff, who took over construction and adjusted prices. Amenities include a fitness center, 75-foot lap pool, spa-treatment rooms, a golf simulator, children''s playroom, private dining, a games lounge, and a garage. Services are offered from the adjacent Faena Hotel, which is part of the rebranded project.
The No. 2 contract was a townhouse at 8 East 63rd Street, asking $27,995,000;
it has been on and off the market since 2019, starting as high as $35,000,000 and cycling through 3 brokerage firms. The 25-foot, 5-story brick house has 9,420 square feet and has been divided into 2 apartments and a dentist office. It has an elevator, 11-7’ ceilings, 6 fireplaces, and 3 terraces. Annual real estate taxes are $181,722.
