Two condos tie for Manhattan’s priciest contracts as luxury prices start to cool

Units at 15 West 61st Street, 601 Washington Street, asked $9.25M

Manhattan’s signed luxury contracts last week reached a peak of activity for the year, with a slump in prices.

A whopping 43 contracts were signed last week priced at $4 million and above, but no deal surpassed $10 million, according to a report covering contracts signed between May 2 and 8.  It’s the first time this has happened since September 2020.

Still, some came close. The top priciest contract was a tie between two condos, both asking $9.25 million.

PH31C at 15 West 61st Street has over 2,000 square feet with three bedrooms, three and a half bathrooms and a library. The unit traded in a sponsor sale in the Upper West Side building dubbed Park Loggia.

Amenities in the building include a fitness center, children’s playroom, resident lounge and outdoor garden and terraces.

Apartment 5W at 601 Washington Street was the second condo to tie for first. The unit has nearly 3,000 square feet including three bedrooms and three and a half bathrooms. Off the primary bedroom is a balcony.

The building is a new 10-unit condominium and features a fitness center, roof terrace and storage.

The second priciest home to enter into contract was a townhouse at 281 West 4th Street, asking $9.1 million. The seller paid $9.6 million for the home in March 2013. The 17-foot-wide, 3-story home has 2,000 square feet with three bedrooms and two and a half bathrooms. It also features landscaped terraces on the ground floor and on the roof.

Out of the total 43 contracts signed, 33 were condos, four were co-ops and six were townhouses. The asking prices totaled nearly $269 million, with a median of $5.8 million. The units spent an average of 766 days on the market.

Reprinted from The Real Deal, May 2022