by Howard Morrel & Leslie Hirsch
57th Street Report
A triplex penthouse at 111 West 57th Street led a record-setting week for Manhattan’s luxury market.
The 7,300-square-foot condo, listed for $56 million, was the priciest of 45 homes asking $4 million or more to enter contract between March 24 and March 30, according to Olshan Realty.
The deal count was the highest since December 2021, when 54 properties found buyers.
A Price Cut and a Strong Sale
The penthouse, which last asked $10 million less than its original offering price, spans three levels and includes four bedrooms, five bathrooms, and a 1,200-square-foot loggia. Sales at the JDS, PMG, and Apollo-developed tower have been led by the Nikki Field Team at Sotheby’s since last summer. Units in the 82-story supertall have topped contract reports six times this year. Amenities include a pool, fitness center, and private dining room.
Tribeca Penthouse Secures Second-Highest Contract
The week’s second-priciest contract was a $24.5 million penthouse at 108 Leonard Street. The 6,300-square-foot triplex has five bedrooms, five bathrooms, and more than 2,000 square feet of terrace space. It first hit the market in 2018 for $22 million. The building, a Tribeca conversion by Elad Group, is now more than 90 percent sold, with sales handled by a Douglas Elliman team led by Elena Sarkissian and Raphael De Niro.
Market Trends and Notable New Listings
The 45 homes under contract had a combined asking price of $433 million, with an average price of $9.6 million and a median of $6 million. Listings spent more than 800 days on the market and traded at an average 9 percent discount.
The priciest new listings last week included a four-bedroom on the 56th floor of 157 West 57th Street, asking just under $21 million, and a unit at 1020 Fifth Avenue, listed for $17 million, per the Eklund-Gomes team.
Want to learn more? Let’s talk!
All the best,
Howard Morrel & Leslie Hirsch
Christie’s International Real Estate Group
(212) 956-4823
mha@christiesrealestategroup.com
