Zeckendorf’s 15 CPW snatches Manhattan’s top contract amid market dip

Sasha Jones, The Real Deal

Zeckendorf Development’s 15 Central Park West came out on top in the Manhattan luxury market’s worst week in 18 months.

For the third time this year, a unit in the Upper West Side building grabbed the top spot among Manhattan’s luxury market.

This time it was 37A asking $26 million, reduced from $28 million when it was listed in April, according to the weekly Olshan Report, which tracks contracts signed for Manhattan residential properties priced at $4 million and above. The seller paid $30 million for the condo unit in 2014.

The unit is over 3,000 square feet with three bedrooms and three and a half bathrooms. The living room and master bedroom offer views of Central Park.

Amenities in the building include a 14,000-square-foot fitness center with a 75-foot pool, a resident-only restaurant, a landscaped motor court and garage, library, business center, game room, outdoor terrace and children’s playroom.

Eight contracts were reported last week in a new condo at 555 West 22nd Street called the Cortland, each ranging from $5.1 million to $23.5 million. However, the report said it was not including those units after the property’s head of sales did not confirm the dates the contracts were signed.

“Some developers and brokerage firms employ the strategy of waiting to accumulate enough sales in a new condo building before it reports to the Real Estate Board of New York’s database,” the report said. “This is an old tactic: Instead of posting weekly sales, developers sometimes report a group of sales all at once in the hope of making a building look like it is selling well.”

The second priciest home to enter into contract was PH7W at the Rudin Family and Global Holdings’ 155 West 11th Street, asking $15 million. The unit sold in an off-market sale. The seller purchased the unit from the sponsor for over $11 million in 2017.

The penthouse has 2,500 square feet across three bedrooms, three and a half bathrooms and two large terraces.

The unit is in the Greenwich Lane, a five-building complex comprising 193 condos and five townhouses. Amenities include parking, a fitness center, a 25-meter swimming pool, golf simulator, garden, residents’ lounge and children’s playroom.

In total, 12 contracts were signed last week, marking the lowest since the week of Dec. 28, 2020. The homes’ asking prices totaled nearly $101 million, with a median of $5.335 million. The units spent an average of 446 days on the market, with an average discount from original to last asking price of 6 percent.

Nine of the 12 units were condos, one was a co-op and two were townhouses.