Press

At the high end of the Manhattan real estate market, townhouses are in particular demand by a certain class of luxury buyer. They crave the exclusivity and privacy that not even the best-appointed penthouse can provide, and issues like high interest rates and equally high carrying costs do not put deter them. On the second full week of June 2025, a time when the number of contracts signed experienced a slight week-over-week dip, townhouses put on a strong showing in the top contracts of the week.

The top townhouse contract of the week nearly became a boutique condominium, but was instead turned into a single-family mansion. 150 West 15th Street was initially intended to become a four-unit boutique condominium when it was purchased in 2006, but the recession put a stop to that project and it was turned into a single-family mansion designed by Eric Cohler (h/t Curbed). Public records indicate that he sold it to a party listed as an LLC in spring 2013, and that the unidentified seller this year will take a small loss with its asking price of $15,000,000.

Brooklyn buyers also found themselves drawn to townhouses, with such listings accounting for many of the borough's highest-priced contracts of last week. The top Brooklyn contract of the week was for 45 Park Place, a single-family townhouse located up the street from Prospect Park and asking $6,500,000. The house dates back to the late nineteenth century, and original details like herringbone floors, intricate ceiling medallions, and the original fireplace mantle are still on display. They were restored to their original glory during a renovation that yielded such bells and whistles as a chef-caliber kitchen, a chic primary suite, and a backyard garden with built-in BBQ grill.

The week's top co-op contract took place at 936 Fifth Avenue, a prewar cooperative on the southeast corner of Fifth Avenue and East 75th Street. This allows for direct Central Park vistas for the apartments inside, but the penthouse offers an outdoor escape all its own: Every room on the main level offers direct access to landscaped wraparound terraces. Upstairs, a library/media room has a bay window, a surround sound system, and direct access to another landscaped terrace with outdoor kitchen and enough room for a sizeable dining area.

The penthouse has been on and off the market since February 2022, when it was listed for $22,000,000. While the asking price of $14,995,000 represents a reduction of over 30 percent, it was still good enough for the fifth-highest contract of the week.

Additionally, a total of $5,680,000 across four deals was signed at The Willow, Naftali Group's forthcoming project in the heart of Gramercy. All four one-beds were signed for the asking price and feature interiors by Rockwell Group, abundant natural light, kitchens with honed quartz countertops and Miele appliances, and primary suites with generous closet space and en suite baths with radiant heated floors. Remaining public availabilities range from a one-bedroom for $1,310,000 to a three-bedroom with a private terrace for $4,620,000.