"111 West 57th Street developer claims priciest contract in Manhattan's luxury market"
"New dev condos on Billionaires' Row and in the Financial District dominate top contracts in Manhattan's luxury market last week."
Sponsor units at 111 West 57th Street and in the Financial District secured the highest-priced contracts in Manhattan's luxury market during the week of Sept. 22-28, according to Olshan Realty's weekly report. The total of 23 deals for homes priced at $4 million or more was up from 21 in the previous period.
The most expensive contract was for a condo at 111 West 57th Street, asking just under $20 million. Unit 38, which initially sought roughly $23 million when sales at the supertall launched nine years ago, has three bedrooms and three bathrooms in its 4,500 square feet of space. The condo has been on and off the market since its launch, with the most recent suspension lasting only a brief period.
"This is a clear demonstration of the strength of the resale market in the building," said Donna Olshan, president of Olshan Realty.
In the Financial District, a sponsor unit at 125 Greenwich Street claimed the second-highest contract, asking $15.5 million. The 4,299-square-foot condo has four bedrooms and four and a half bathrooms. In third place was a penthouse at 212 Fifth Avenue, asking $14.9 million. The 5,185-square-foot condo has four bedrooms and five and a half bathrooms.
"The downtown market saw a resurgence this week with seven contracts, and the average asking price of those contracts was $8.9 million – the highest we've seen since the week of May 11," Olshan said.
Originally reported by