Manhattan’s trophy market kicked off February with a scorching week for signed offers.
Of the 36 contracts signed for properties asking not less than $2 million final week, 13 have been for properties priced at $10 million or greater, based on Olshan Realty. The overall marks probably the most weekly contract signings for properties asking eight figures since October 2024.
A brand new rental at 1122 Madison Avenue from Legion Funding Group and Nahla Capital contributed 4 contracts for properties in that worth tier final week alone, and has already bought half of its 26 models at an asking worth of virtually $4,300 per foot since launching gross sales off of ground plans lower than a month in the past.
In whole, there have been 22 offers signed for condos, seven for co-ops and 6 for townhouses, together with one for a condop for a complete contract quantity of over $370 million. The week prior noticed 33 contracts signed for nearly $313 million.
The highest contract final week went to 2 78th-floor units at 432 Park Avenue.
The models had been on the middle of a lawsuit between the constructing’s sponsor, CIM Group, and is developer, Harry Macklowe. A purchaser agreed to pay $53 million for models 78A and 78B, which mix to span your complete 78th ground, two sources accustomed to the deal told The Real Deal. Macklowe misplaced the properties final yr after defaulting on the loans he had taken out from CIM to buy the condos.
Spanning 8,300 sq. ft, the 78th ground is split into two models that may be mixed, or maintained individually.
Serhant’s Glenn Davis and Nicholas Compagnone had the itemizing.
The second priciest contract went to Unit 4N at 140 Jane Road, which was asking $27 million, up from its unique worth of $21 million.
Spanning virtually 4,600 sq. ft, the rental consists of 4 bedrooms and 4 full loos. The house additionally features a stone-floored room with sliding glass doorways that open onto a Juliet balcony.
The first suite options two dressing rooms and an excellent room with almost 10-foot ceilings has views of the Hudson River.
A Corcoran Sunshine crew, led by Tara King-Brown, is heading gross sales on the Aurora Capital Associates’ challenge. There’s now just one unit left on the 14-unit improvement. The challenge inked a contract for a penthouse asking $87.5 million last year, which might be the costliest rental bought downtown if it closes for that worth.
Houses that went into contract final week had a median asking worth of $7.4 million and a mean low cost of 5 %.
Learn extra
Aurora Capital nabs buyer for $88M penthouse at 140 Jane Street
Harry Macklowe’s forfeited condos at 432 Park nab $53M contract
Central Park Tower tops Manhattan’s luxury contracts
