.png)
By CityRealty Staff | From Future New York
Monday, August 19, 2024
According to CityRealty’s Starchitect index, prices in condos designed by high-profile architects are down from the dizzying highs of 2019. However, if Manhattan’s top contracts from August 12-18, 2024 are any indication, such buildings remain in high demand among luxury buyers: Apartments in condos designed by Pritzker Prize laureate Christian de Portzamparc, Robert A.M. Stern Architects, and Bjarke Ingels Group demanded some of the highest asking prices of the week.
The top contract of the week was for Tower Residence #31 at 111 West 57th Street, which was asking $14,000,000. While this price represents a $3 million reduction from the figure listed in the super-skinny supertall's initial offering plan, the price cut is not as deep as some of the others in the tower soaring above the landmarked and refurbished Steinway Hall loft component. Like its Tower Residence counterparts, #31 features three bedrooms, three and a half baths, direct elevator entry, and views of Central Park.
111 West 57th Street, home of Manhattan's top contract (Sotheby's International Realty)
It was closely trailed by another full-floor unit. Residence #57FL at Madison Square Park Tower had the week's top Downtown contract and second-highest overall with an asking price of $12,500,000. If it sells for this asking price, public records indicate that the unidentified seller will break even, having paid this price for the apartment in January 2020. It was initially listed for $13,995,000 in January 2024.
The week's top townhouse contract and fourth-highest overall was for 144 Waverly Place, which was asking $8,925,000. When its owner, RFR principal Michael Fuchs, listed it in June 2024, Crain's New York Business noted that it does not appear that he ever lived there, having purchased a nearby Village townhouse around the same time and rented out units at 144 Waverly Place. If it sells for this price, Mr. Fuchs will take a loss, having paid $9.2 million for it in 2019.
Also of note last week, three contracts were signed at Hendrix House, a new construction condominium on the southwest corner of East 25th Street and Second Avenue. All three studio through one-bedroom units feature floor-to-ceiling windows, open kitchens with high-end appliances, and Hendrix House's signature custom home offices with built-in desk and shelving system; the studio also has a private terrace. The contracts bring Hendrix House to over 50% sold.
The signings come less than two months after sales launched in the building and at a time when construction has recently topped out. Remaining availabilities start at $1,325,000.
Hendrix House (CORE Real Estate) | Photo from August 2024 showing the frame at full height (CityRealty)
(l-r) Anthony Morali, Shaun Oster, Bentley Zhao, Wayne Norbeck, and Paris Forino at Hendrix House's topping-out ceremony (The Snap Market)
Hendrix House (CORE Real Estate) | Photo from August 2024 showing the frame at full height (CityRealty)
(l-r) Anthony Morali, Shaun Oster, Bentley Zhao, Wayne Norbeck, and Paris Forino at Hendrix House's topping-out ceremony (The Snap Market)
"Hendrix House is custom-tailored to realize innovative in-home and community spaces which celebrates the philosophy of community and interconnected living" — Bentley Zhao, Chairman & CEO, New Empire Corp.
One of several lounge areas and co-working spaces at Hendrix House
Comments