Extell Development Dominates Manhattan’s Luxury Market
Last week, Extell Development emerged as the leading name in Manhattan’s luxury market. Two of the developer’s buildings featured the most expensive contracts signed between November 13 and 19, as reported by Olshan Realty’s weekly analysis of Manhattan homes priced at $4 million or more.
50 West 66th Street: Most Expensive Contract
The most expensive home to enter into a contract was Unit 42NS at 50 West 66th Street. This is the fifth time this year that the building has claimed the top spot in Olshan Realty’s report. The unit secured a signed contract after being listed for $45.8 million. The 7,000-square-foot condo has five bedrooms, 5.5 bathrooms, and 14-foot ceilings. It also features a 56-foot great room with two loggias offering views of Central Park. Douglas Elliman’s Janice Chang and Timothy Hsu were responsible for the listing.
Amenities at the building include doormen, a fitness center, indoor lap pool, outdoor saltwater pool and jacuzzi, basketball and pickleball courts, a screening room, game room, and dog-washing facilities.
157 West 57th Street: Second Most Expensive Contract
The second most expensive home to enter into a contract last week was the 83rd floor at 157 West 57th Street, listed for $34 million. The apartment sold immediately after being listed, significantly below the $45 million the seller paid in 2016. The 6,200-square-foot condo has four bedrooms and 5.5 bathrooms. A 1,400-square-foot great room offers views of Central Park, as does the 30-foot primary bedroom. Douglas Elliman’s Noble Black was responsible for the listing.
The 90-story, 90-unit building was constructed above the 5-star Park Hyatt Hotel and was designed by Pritzker Prize-winning architect Christian de Portzamparc. Amenities include hotel services, a fitness center, pool, private dining, a library lounge, and performance space.
Manhattan Luxury Market Overview
Of the 24 homes that entered into a contract last week, 14 were condos, four were co-ops, four were townhouses, and two were condops. The combined asking price for these homes was $234.2 million, with an average asking price of $9.8 million and a median asking price of $5.7 million. The typical home spent 515 days on the market and received a 4 percent discount.
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