Another condominium at 111 West 57th Street has secured the top spot among Manhattan’s luxury home contracts last week. Unit 42 in the tower, developed by JDS Development and Property Markets Group, was listed for $22.5 million and led a group of 23 contracts signed for properties asking $4 million or more between August 11 and August 17, according to Olshan Realty’s weekly report. This marks the ninth time this year that a condo in the building has ranked first or second in these reports.
The full-floor apartment covers 4,500 square feet and was originally priced at $27.5 million when it first came to market in 2016. It features three bedrooms, four bathrooms, and a great room with views of Central Park. The building offers amenities such as a fitness center, padel court, pool, terrace, and private dining room. Of its 60 units, 49 have closed at an average price of $4,500 per square foot.
Sales at the property are managed by the Nikki Field Team with Sotheby’s International.
The next most expensive contract was for a townhouse on the Upper West Side at 330 West 88th Street. The property was listed for $10 million after entering the market in February. It spans six stories and totals 7,000 square feet with four bedrooms and six bathrooms. The seller purchased it for $4.5 million in 2022 before undertaking more than two years of extensive renovations. Features include an elevator, garden, two terraces, and a basement gym.
Jaime Richichi of Sotheby’s International represented this listing.
A total of 23 contracts were signed last week—similar to the previous week’s tally of 22 deals. Of these homes sold, there were fifteen condos, four co-ops, one condop unit, and three townhouses involved.
Combined asking prices for all properties reached $149 million with an average price per home of $6.5 million and a median price of $5.4 million. Most homes spent over two years on the market before selling and were discounted by about eleven percent from their original listing prices.
