Another pricey deal for a Downtown Manhattan condo is on the horizon.
A penthouse at 16 Fifth Avenue, asking $45 million, found a buyer last week and nabbed the No. 1 spot in Olshan Realty’s weekly report on Manhattan’s luxury market. The duplex was one of 34 properties in the borough asking $4 million or more to land an inked deal between April 20 and April 26, down from 39 in the previous period.
Penthouse 2 spans 6,800 square feet and has five bedrooms, seven bathrooms and two terraces. It also features a private elevator, a corner chef’s kitchen and views of Washington Square Park.
A team with Corcoran Sunshine Development Marketing, including Tara King-Brown and Ryan Kaplan, is heading sales at the 14-unit building designed by Robert A.M. Stern.
Madison Realty Capital launched sales at the Greenwich Village project last year after construction issues had delayed its progress two years prior. Tenants at the neighboring 10 Fifth Avenue complained of cracks in their walls after the developer’s crew began excavating the development site.
The pending deal for the condo comes as other new developments in Downtown Manhattan are poised to push price boundaries to new heights. In August, Aurora Capital Associates nabbed a signed contract for a penthouse at 140 Jane Street, asking nearly $88 million. Four months later, a buyer inked a deal for multiple units at 80 Clarkson Street for $129 million.
The second most expensive home to snag a signed contract was also in Downtown Manhattan, where buyers have inked deals for 230 luxury homes so far this year. The total surpassed that of the Upper East Side, which has notched 162 signed contracts, and the Upper West Side, where 115 properties have found buyers.
The condo was at Naftali Group’s 275 West 10th Street, a 38-unit building in the West Village known as the Shephard. The corner apartment, which had an asking price of $16.3 million, last traded for $12.6 million in 2022.
Unit 4C spans 3,800 square feet and has four bedrooms and four bathrooms. It also features barrel-vaulted ceilings, an eat-in kitchen and partial views of the Hudson River.
Amenities in the building include a gym with a basketball court and pilates studio, doormen and a landscaped garden.
Compass’ Hudson Advisory Team, led by Clayton Orrigo and Stephen Ferrara, had the listing.
Of the 34 properties, 21 were condos, eight were co-ops, one was a condop and four were townhouses.
The homes asked a combined $280 million, which works out to an average of $8.2 million and a median of $6.1 million. The typical home was on the market for roughly a year and a half and had a discount of 10 percent.
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JDS, Property Markets Group snag deal for 111 W 57th St penthouse
Zeckendorf, Atlas Capital’s 80 Clarkson nabs contract for $129M
A $60M deal at Witkoff’s 150 Charles sets a Downtown Manhattan record
