Manhattan's top contract-signings include $94M worth of deals at The Cortland and Edward Albee's Tribeca loft

CityRealty Staff

Manhattan Contracts:

• From June 13-19, 2022, a total of 226 townhouses, condos, co-ops, and condops entered contract
• The average time on the market was 68 days
• The total sticker price sum came to $472,589,899, and the median last asking price came to $1,197,500
• There were a total of 106 condo deals, coming to a total of $312,528,000. They came to a median asking price of $1,585,000 and spent an average of 72 days on the market
• The four condop deals came to a total of $4,130,000 and a median last asking price of $955K. They spent an average of 48 days on the market
• The 113 co-op deals aggregated to $130,736,899 and came to a median last asking price of $895K. They spent an average of 63 days on the market
• The three townhouse deals came to a total of $25,195,000 and a median last asking price of $9,995,000. They spent an average of 172 days on the market

The top contract of the past week was #37A at the Robert A.M. Stern-designed 15 Central Park West, which was asking $26,000,000. The seller of the 3-bedroom, 3.5-bath, 3,105-square-foot condominium was not identified, but we can confirm that they will be taking a loss on it—they paid $30 million for it in 2014 and listed it for $28 million this April.

15 Central Park West has long been a fixture on lists of top sales and contracts, but the next-highest contracts came from a new entrant: The Cortland, a new West Chelsea condominium designed by Robert A.M. Stern Architects in partnership with Olson Kundig. Olshan Realty did not include these in their weekly market report because the head of sales did not confirm when the contracts were signed; however, eight contracts were reported last week totaling to $93.8 million based on thier sticker prices. These included an apartment asking $23,500,000 and another asking $16,750,000, which ranked high enough for the second- and third-highest contracts of the past week. The top five contracts also include a four-bedroom home in the building asking $12,500,000.

Sales at The Cortland officially launched in April 2022 with prices from $4.05 million for two-bedrooms to over $21 million for certain four-bedrooms. To date, the building's 15 publicly listed units range from $1.8 million for a one-bedroom to $25 million for a five-bedroom with a large private terrace. The contracts come at a time when CityRealty data shows that closing prices of Chelsea/West Chelsea condos are nearing record highs.

Like all units at The Cortland, the apartments in contract feature high ceilings, floor-to-ceiling windows, expansive floor plates, beautifully appointed kitchens, and primary baths lined with specialized marble from the Henraux Quarry. Residents will have access to amenities that include a private brick motor court, a double-height attended lobby, a high-tech fitness center, a 75-foot lap pool, a spa area, an accredited squash court, a virtual reality room, and a rooftop terrace.

Top Contract-Signings

2. The Cortland, 555 West 22nd Street, #22AW

Chelsea | Condominium | 5 beds, 5.5 baths | 4,091 sq. ft

Last Ask: $23,500,000 ($4,091 / sq. ft)

From the Listing:

Residence 22AW is 4,091 square feet with five bedrooms and five-and-a-half bathrooms. The expansive, open-plan living and dining areas feature unobstructed views of the Hudson River, a 28-foot corner great room with a fireplace, a windowed eat-in kitchen with a custom Olson Kundig-designed Jackbox, warm wood flooring, and floor-to-ceiling windows.

15 Available Listings for Sale from $1,800,000

3. The Cortland, 555 West 22nd Street, #22BW

Chelsea | Condo | 3 beds, 3.5 baths | 2,933 sq. ft

Last Ask: $16,750,000 ($5,711 sq. ft)

From the Listing:

Residence 22BW is 2,933 square feet with three bedrooms and three-and-a-half bathrooms. The expansive, open-plan living and dining areas feature unobstructed views of the Hudson River, a 29-foot corner great room, family room, a kitchen with a custom Olson Kundig-designed Jackbox and a walk-in pantry, warm wood flooring, and floor-to-ceiling windows. The primary bedroom suite offers a fireplace and double walk-in closets.

5. The Cortland, 555 West 22nd Street, #19AW

Chelsea | Condo | 4 beds, 4.5 baths | 3,004 sq. ft

Last Ask: $12,500,000 ($4,161 sq. ft)

From the Listing:

Residence 19AW is 3,004 square feet with four bedrooms and four-and-a-half bathrooms. The expansive, open-plan living and dining areas feature unobstructed views of the Hudson River, a 29-foot corner great room, a windowed eat-in kitchen with a custom Olson Kundig-designed Jackbox, warm wood flooring, and floor-to-ceiling windows.

15 Available Listings for Sale from $1,800,000