Notching up the third-best second week in January ever is not too shabby. However, the 227 contracts that were signed last week (January 8th to 14) were down 13% annually despite being up 6% over the previous week. That said, it was still a strong performance and new development deals priced between $3M to $10 (26 deals in total) were up annually.
To put a further twist on things, four of the top five deals of the week were resale co-ops, a first since the pandemic. There were a total of 17 luxury condos and co-ops, priced over $10 million that found potential buyers, with 16 of them priced between $5M-$10M. Let’s delve deeper.
A Co-Op With A Literary Past Sells For $12M
The top-selling (co-op or condo) deal of the week was Unit 3AC, a two-bedroom co-op on East 73rd Street, listed for 12 million. The spacious, 79-foot wide building in which the co-op is housed was completed in 1903 for $369,000 and was once home to the renowned publisher, Joseph Pulitzer, after whom the revered Pulitzer prize for literature is named. According to Mansion Global, it was converted into apartments in 1933 and then co-ops in 1952. The largest co-op in the building, it found a buyer after just a few days on the market.
Greenwich Village Townhouse Sells for $15.7M After 4 Years!
The top-selling home of the week wasn’t a condo or co-op, however, but a townhouse on Downing Street in Greenwich Village that found a buyer after an interminable four years on the market. The gut renovated 8,260 square feet home was most recently asking $15.7 million and features five bedrooms, five full bathrooms, six terraces along with an elevator, garage, and conservatory.
Robert A.M. Stern’s “The Belnord” Keeps Sizzling on the UWS
On the Upper West Side at 225 West 86th Street, the King of New York (architecture), Robert A.M. Stern’s re-imagined “The Belnord”, a 213 unit condo conversion from gilded age co-op has seen a flurry of contracts according to data on StreetEasy. The most recent is unit 1004 which was listed for $8.7 million. Unit 217 sold in the same building just before the holidays for $10 million.
Accountancy King-Pin Sells Carnegie Hill co-op for $35M
It’s not often you hear the term “accounting guru” but that moniker applies to Richard Eisner, co-founder of Eisner LLP which preceded audit, accounting, and tax advisory firm EisnerAmper. Clearly, Eisner is good with numbers because The Real Deal reports that he and his wife Carole, sold their co-op at 1007 Fifth Avenue for $35 million to an unnamed buyer.
Dumbo’s Olympia Nabs the top two Sales of the Week in Brooklyn
A total of 72 contracts were reported signed in Brooklyn last week which meant that sales were down by around 20% both week over week and year over year. That didn’t stop the high-priced, high luxury Olympia (30 Front Street) in Dumbo from notching the top two sales of the week for units 31A and 20A at just over $8 million and $5.2 million respectively for 4 and 3 bedroom condos.
Those weren’t the highest-priced homes in the development though. A 32nd floor, five-bedroom penthouse has just been listed for $19.5 million. Although a 7,433-square-foot penthouse in Brooklyn Height’s Quay Tower sold for $20.3 million last year, the nearly 5,000 square foot Olympia luxe home bests it considerably on price per square foot.
Celebrity Deals
Chef Bobby Flays Serves Up His Chelsea Home for $5.6 Million
Celebrity chef Bobby Flay has sold his downtown duplex at 252 Seventh Ave. — aka the Chelsea Mercantile — for $5.6 million, according to the New York Post. Flay’s price cooled from its original number of $.7.95 at the peak of the market seven years ago. The 3,256 square foot home contains three bedrooms, three bathrooms, a home office, a lounge, and a bar.
If you want to look at any of the developments mentioned here or other homes in Manhattan, Brooklyn, or the Hamptons, don’t hesitate to contact the Bracha team at 212-355-3148 or [email protected]