As GDSNY buys out Park Avenue co-op for redevelopment, deals in pre-war-inspired buildings dominate top sales and contracts

The Woolworth Tower Residences via Sotheby'sWhile it is far too soon to say what effect the coronavirus will have on the New York real estate market, there are a few things we can say with certainty: Interest rates are at a record low, and the past week saw a total of 27 contracts signed for $4 million and up...WAY up in the case of the top signings! Olshan Realty's market report notes that this is the same number as last week, and the combined total of 54 contracts ties the best two-week performance since the end of June 2019.

Privacy is always at a premium in a crowded city like New York, but this week's top contracts indicate that it is at a higher priority than ever. The week's highest contract is a West Village townhouse that was listed for $19,942,500 and designed as part of a new condo development, allowing for access to the shared amenities and allowing for the best of both worlds. Many of the other top contracts are full-floor condos, and the one outlier occupies the entire east side of its floor. The logic here seems to be that if a citywide quarantine is on the horizon, these buyers will endure it in style.

On the sales side, the majority of the highest-priced purchases in the past week took place at 417 Park Avenue. The 14-story cooperative dates back to 1917; more recently, The Real Deal reports that a partnership between Klövern AB and GDS Development Management purchased the building for $184 million in February 2020, presumably to take advantage of the neighborhood's rezoning, and are currently in the process of buying out the residents...for what is clearly market-rate! Park Avenue skyscrapers

417 Park Avenue and the redeveloped office building 417 Park Avenue may be replaced with singular new office tower led by Klovern and GDSNYThe zoning allows the address to have an office building with a floor-area ratio of 25. If this indeed comes to pass, it will be in esteemed company in this section of Midtown. It is a few short blocks north of the site of Tower Fifth, Harry Macklowe's proposed office tower that would be New York's tallest by roof height. JPMorgan's headquarters at 270 Park Avenue is expected to span 2.5 million square feet. Meanwhile, TF Cornerstone and MSD Partners are planning at $3 billion redevelopment of the Grant Hyatt at 109 East 42nd Street.

Top Contracts

Condo | 4 beds, 5.5 baths | 7,977 ft²

601 Washington Street (BKSK Architects) 601-Washington-Street-1

All images of 601 Washington Street via Elliman 601-Washington-Street-2

From the listing:
Townhouse West at 601 Washington is a private home within a full-service condominium, masterfully designed with magnificent proportions to take advantage of the 7,977 interior square feet spread across three levels with a beautifully landscaped private 1,018-square-foot courtyard.

Townhouse West's exceptional features include ceiling heights ranging from 10'6 to 17', four bedrooms all with en-suite bathrooms; a private garden entry; private interior elevator; private gym with infrared sauna; wine cellar; large screening room; complete lighting package designed by David Clinard Design Studio; Lutron HOMEWORKS lighting and shade control system; solid 7 inch wide-plank white oak flooring; two powder rooms and two fully ventilated double LG washers and dryers. Floors, walls, and windows have been acoustically engineered to create a quiet haven for wellness.

2 Available Listings from $8.3M

Condo | 4 beds, 4.5 baths | 5,991 ft²

All images of The Woolworth Tower Residences via Sotheby's 2-Park-Place-2

From the listing:
Residence 31A, one of only four terraced apartments at The Woolworth Tower Residences, spans the entire 31st floor, is perched almost 400 feet above street level, and offers unmatched cinematic views of the surrounding cityscape in addition to unique sightlines of the building itself. This beautiful home in the clouds takes in extraordinary light via the breathtaking views from both its North and South Terraces. The Great Room, reaching over 73 feet in length and ceilings over 10 feet, offers an abundance of flexible entertaining areas and ample wall space for even the most prestigious art collection.

Adjacent to the Great Room, the sun flooded eat-in professional kitchen has been outfitted with custom Dada cabinetry crafted by the Molteni Group, Calacatta Caldia marble countertops, and integrated Dornbracht fixtures. A full suite of Miele appliances, inclusive of a wine fridge and two dishwashers, truly makes this kitchen extraordinary.

6 Available Listings from $2.9M

Condo | 4 beds, 4.5 baths | 3,319 ft²

All images of The Greenwich Lane via Compass 160-West-12th-Street-2

From the listing:
Enter through a formal foyer with a grand gallery which leads directly into the large great room which includes a dining area and multiple living areas. This massive flexible living and entertaining space flows into a large south-facing balcony with open views of Lower Manhattan. On the north end of the great room, is a large eat-in chef’s kitchen adorned with custom white inset panel cabinetry, Carrera marble countertops, a large island and marble tile backsplash. A Sub-Zero, Wolf and Miele stainless steel appliance package complete this luxurious kitchen.

The master suite is grand in scale with high ceilings, large windows and French doors leading to the private North terrace with open views of Midtown Manhattan. The large walk in closet and secondary closet are perfect for any clothes horse with custom built-ins for ample storage. The master bathroom is light-filled and luxuriously-appointed with mosaic tiled floor, Waterworks fixtures, large soaking tub, separate shower and double vanity, along with French doors leading to the private terrace.

Co-op | 4 beds, 3.5 baths

1067 Fifth Avenue 1067-Fifth-Avenue-1

All images of 1067 Fifth Avenue via Elliman 1067-Fifth-Avenue-2

From the listing:
Grand scale full-floor 10-room residence with a flexible layout comprised of 4 bedrooms, 3.5 bathrooms, an expansive double-living room, library, formal dining room, windowed eat-in kitchen, and laundry/staff room, offering stunning sunsets, and postcard-perfect panoramic views of Central Park, the Jackie Onassis Reservoir, and the city skyline, in a highly sought-after prewar Fifth Avenue full-service building.

A private landing welcomes you into a grand double living room, with striking Central Park and city views through oversized windows under 10' ceilings, and a charming planting balcony. The living room seamlessly flows into the west-facing library with custom woodwork and built-in shelves, and the formal dining room, creating a gracious/dramatic entertaining space.

1 Available Listing for $6.5M

Condo | 4 beds, 4 baths | 2,756 ft²

The Centrale (Pelli Clarke Pelli Architects) 138-East-50th-Street-1

All images of The Centrale via Elliman 138-East-50th-Street-2

From the listing:
Privacy is ensured in this Champalimaud designed full-floor tower residence at The Centrale, offering iconic landmark views such as Central Park, the Chrysler Building, and the East River through 10' floor-to-ceiling windows. This four bedroom, four bathroom home begins with white oak flooring throughout, leading from the entry foyer into an expansive open living and dining concept complete with a chef's kitchen offering honed Capri marble countertops, backsplash, and a waterfall island with ample room for seating and entertaining. The kitchen has a refined aesthetic with streamlined custom white oak millwork that seamlessly integrates a full Gaggenau appliance package, including an undercounter wine refrigerator, complemented by Dornbracht fixtures.

The expansive corner master bedroom suite features open skyline views, a walk-in closet and a luxurious windowed en-suite master bath. The five-fixture master bath offers Bianco Dolomiti radiant heated flooring underfoot, an enclosed shower, and a Victoria + Albert free-standing tub. A custom double vanity with white oak, rift-cut wood veneer millwork, and Marno Illusion countertops is completed with a built-in medicine cabinet, Kallista Sink and Dornbracht Fixtures.

13 Available Listings from $1.7M

Condo | 3 beds, 3 baths | 3,211 ft²

220 Central Park South (CityRealty) 220-Central-Park-South-1

All images of 220 Central Park South via Vornado Realty Trust 220-Central-Park-South-2

2 Available Listings from $15M

Co-op | 4 beds, 4.5 baths

30 East 71st Street (CityRealty) 30-East-71st-Street-1

All images of 30 East 71st Street via Compass 30-East-71st-Street-2

From the listing:
This magnificent and renovated 12 into 10 room prewar apartment offers a scale, layout, and maintenance rarely found. The exquisite entrance gallery leads to a grand living room with wood burning fireplace, large and elegant dining room, and a lovely wood paneled library. The enormous eat-in kitchen features a wonderful center island, adjacent small office, butler's pantry and laundry room. The corner master bedroom has a separate dressing room and pretty skyline views from two exposures. There are three additional large bedrooms, two with en suite baths, and a separate staff room and bath. 10' ceilings, beautiful oak floors, over-sized windows, abundant closet space, and a maintenance of $3,152 complete this rare and coveted apartment.

Condo | 4 beds, 4 baths | 2,914 ft²

All images of 90 Morton Street via Reuveni Real Estate 90-Morton-Street-2

From the listing:
This 2,914-square-foot residence opens to a gracious entry foyer that flows seamlessly into the great room complete with vast blackened steel frame, double paned glass east facing windows. 10'7'' ceilings are beamed and showcase the character and distinction of the buildings original use as a printing house built in 1912.

The custom chef's kitchen features top-of- the- line Gaggenau appliances including a 36'' gas and vented cook-top, convection oven, speed oven, 36'' refrigerator/freezer with a walnut veneer, Sub-Zero wine cooler, additional under island refrigeration, pot filler faucet and dishwasher. Seamless quartzite countertops and blackened steel cabinets with fluted glass panels add a touch of downtown flair to the open and dramatic kitchen.

6 Available Listings from $6.9M

Condo | 4 beds, 4.5 baths | 3,129 ft²

HFZ Capital 225-West-86th-Street-1

All images of The Belnord via Elliman 225-West-86th-Street-2

From the listing:
This extraordinary residence features vibrant north and south exposures, 10' ceilings, fully restored, oversized mahogany windows, and white oak floors with chevron and plank patterns throughout. Get swept away upon arrival into this grand home, where a formal entry leads to a sprawling great room, perfect for living and entertaining.

The enormous eat-in kitchen, custom designed by Molteni in collaboration with Robert A. M. Stern Architects, features Calacatta Gold marble countertops and backsplash, with the unique choice of cerused oak or white lacquer custom cabinetry. State-of-the-art Gaggenau appliances and a 45 bottle Sub Zero wine refrigerator are further complemented by a kitchen banquette with storage.

10 Available Listings from $4M

Condo | 4 beds, 4.5 baths | 2,755 ft²

All images of 530 Park Avenue via Brown Harris Stevens 530-Park-Avenue-2

From the listing:
This elegant, high floor, mint condition, corner home is filled with brilliant sunshine and boasts dramatic views from eastern, southern and western exposures. Entering through the spacious entrance gallery with handsome herringbone floors, one is struck by the gracious layout and separation of public and private spaces. The expansive open living room, with grand proportions and oversized windows, flows into the sunny corner dining room with arresting views south down Park Avenue from the floor to ceiling window. The open, windowed kitchen beyond is outfitted with customized cabinetry by Smallbone of Devizes, Italian granite countertops and beautifully finished Italian porcelain floors. The classic and serene design incorporates the highest quality stainless steel appliances and plenty of counter space to please serious cooks.

4 Available Listings from $2M

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