Activity Chugs Along, but New Development Steals the Show

The Market Report

The most expensive contract of the week is #PH88 at 157 W 57th Street. The five-bedroom residence entered contract asking $34,000,000 after 422 days on the market. The 6,231 sf full-floor residence features incredible Central Park views. This apartment was originally listed for $45MM in 2022.

This week 19 properties entered contract, however, 13 of the properties were in new development buildings. August has continued to show slower activity when compared to earlier months. Weekly sales volume rebounded to $151MM.

Some notable deals:

111 W 57th Street #14N- $12,950,000

• 111 W 57th Street has been experiencing an uptick in contract activity as they have recently dropped their prices slightly, and are negotiating aggressively. The “historical building” is almost sold out, with only two 3-beds left.

• 15 E 26th Street #9A- $5,700,000

  • This fully finished residence features direct Madison Square Park views. The property entered contract after only 29 Days on the market.

• 11 North Moore Street #4B- $4,495,000

  • Located in prime TriBeCa and move-in ready, this residence entered contract after 114 days on the market.

1165 Madison Avenue #8 has been brought to market. The first resale at the Bellemont, a Robert A.M. Stern designed new development, features 14 foot ceilings and incredible finishes.

• Asking Price: $22,000,000

• Taxes: $5,310 | CC: $10,498

• 5 Beds | 6.5 Baths | 6,094 sf