A trophy condo at Extell Development’s Central Park Tower nabbed a buyer last week, topping a slow week for luxury deals ahead of the Fourth of July.
A full-floor unit at 217 West 57th Street, last asking $54.9 million, was the priciest of just 15 homes in Manhattan asking $4 million or more to enter contract between June 29 and July 5, according to Olshan Realty’s weekly report.
The total was down sharply from 27 contracts signed in the previous week. The slowdown was likely due to the holiday, though the number of pending deals still fell short of the decade average of 19 contracts for the week of July 4th.
Gary Barnett’s firm listed the 113th floor of the Billionaires’ Row tower for $63 million when it began marketing units in 2018. The 7,000-square-foot unit has five bedrooms, five full bathrooms and a library. It also features floor-to-ceiling windows, a 50-foot great room and a kitchen with views of Central Park.
The inked deal comes after a similar unit on the 121st floor closed for $47.5 million in November, landing among the 10 priciest residential sales in New York City last year. Another condo at the supertall, Unit 82E, topped Olshan’s weekly report in February, when it found a buyer at an asking price of $26.7 million.
Amenities at the 179-unit building, which is marketed as the world’s tallest residential skyscraper, include indoor and outdoor pools, a fitness center and a club room on the 100th floor.
A team with Extell Development Marketing, led by Gabriele Tonini, heads sales at the building. Douglas Elliman’s Liza Nematnejad brought the buyer.
The second most expensive home to find a buyer was at 432 Park Avenue, with an asking price of $25.8 million. The sellers paid $31.5 million for the apartment in 2019 and listed it for $33 million five years later, lowering the asking price multiple times before securing a signed contract last week.
Unit 94A at the Billionaires’ Row supertall spans nearly 4,000 square feet and has four bedrooms and three full bathrooms. It also features ceilings over 12 feet and views of Central Park and the East River.
Serhant’s Beyond Team, led by Marc Riedel, Jordyn Nusynowitz, Ashley Brooke and Christine Calvo, had the listing.
The skyscraper is at the center of a long-running legal feud between buyers and the building’s developers, Harry Macklowe’s Macklowe Properties and CIM Group. In court documents, condo owners allege that the building has multiple construction defects, including noise issues, flooding, and cracks in the walls, which the developers knew about but hid from buyers.
The developers have previously denied any wrongdoing and have called the owners’ claims “vastly exaggerated” in court filings.
Of the 15 properties to enter contract, 11 were condos, two were co-ops and two were townhouses.
The homes were priced at a combined $153 million, which works out to an average of $10.2 million and a median of $5.7 million. The typical home was on the market for more than a year and was discounted by 13 percent.
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