The Olshan Report

Luxury Market Report, November 1-7, 2021

November 8, 2021

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Forty-six contracts were signed last week at $4 million and above in Manhattan.  Condos outsold co-ops, 38-6, and 2 townhouses were in the mix.

Stat Geek Alert: The luxury market continued on its rip-roaring hot streak, notching its 5th straight week of 40 or more deals.

The No. 1 contract was PHC/D at 1165 Madison, asking $66.5 million in a new 12-unit, 14-story condo called The Bellemont, designed by Robert A.M. Stern and developed by the Naftali Group.  The buyer bought 2 penthouse units off of floor plans to be combined into a 4-level apartment with 13,011 square feet.  The unit has 8 terraces totaling 2,350 square feet.  Amenities include a concierge, fitness center, squash court, roof terrace, children’s playroom, and screening room.

The No. 2 slot was a tie between 2 condos — an Upper East Side penthouse and a Tribeca loft with a similar square footage — both asking $27 million.

PHA at 200 East 83rd Street has 5,835 square feet including 6 bedrooms and 7 bathrooms.  A 41-foot great room, formal dining room, and master bedroom open onto a 40-foot loggia with glimpses of Central Park.  Amenities in this new 85-unit, 38-story condo designed by Robert A.M. Stern include a concierge, fitness center, 70-foot swimming pool, yoga and massage room, steam bath, movie theater, game room, children’s playroom, communal terrace and lounge for residents.

The other No. 2 contract was the 9th floor at 67 Vestry Street.  This 6-bedroom, 5.5-bath condo has 5,794 square feet with a 1,500 square foot great room and master bedroom overlooking the Hudson River.  The kitchen features brushed oak millwork, thick-slab marble countertops, and a LaCanache range custom-made in France.  The 13-unit building, designed by Gachot Studios, is under construction, and features the following amenities: 24-hour doorman, fitness center, lap pool, steam and sauna rooms, a game room, and storage.  Parking spaces are also available for purchase.