Topline
A famous director, A-list actor and a daytime TV show host are among the big names looking for luck in New York City’s hit-or-miss luxury real estate market with a slew of recent high-dollar residential listings that feature original details, sprawling layouts and increasingly rare private outdoor space in the heart of Manhattan.
Key Facts
Sales of luxury homes in New York City are rebounding from a fourth quarter 2023 slump, according to The Wall Street Journal, but local real estate agents still bemoan a hit-or-miss market that has some top-dollar units selling within days while others sit on the market for months on end.
Lower Manhattan is thriving when it comes to luxury sales, WSJ reported, but areas like Midtown—where apartments owned by Jessica Chastain and “Judge Judy” Sheindlin are listed—are struggling with an excess of high-end, unsold units.
Manhattan was the market with the highest median sales price for luxury homes in April, according the latest data available from the Institute of Luxury Home Marketing, with an average price of $4.02 million (Vail, Colorado was next with a $3.52 million median price, followed by Naples, Florida at $2.48 million).
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Crucial Quote
“It’s a mixed bag. Some things sell in two days. Other things sit there for two years,” Leonard Steinberg, a luxury real -estate agent with Compass, told the Journal in March.
A Famed Film Director’s Sprawling Townhouse In Gramercy
Australian director Baz Luhrmann, famous for films like “Moulin Rouge!” and “The Great Gatsby,” has listed his 8,500-square-foot townhouse with Steve Gold of The Corcoran Group for $15.9 million. In Manhattan’s Gramercy neighborhood, the six-bed, seven-bath townhouse overlooks Stuyvesant Square Park and includes a grand staircase, five fireplaces, skylights and original moldings. The four-story home has a front garden with an eat-in kitchen, bar, gym and basement with a media room.
Judge Judy’s Pre-War Penthouse
Judy Sheindlin, the popular daytime TV court judge who has an estimated net worth of more than $500 million, is selling her penthouse between Midtown East and the Upper East Side. The $9.5 million unit has four bedrooms and six bathrooms, two wood-burning fireplaces, a paneled library, chef’s kitchen and wrap-around rooftop terrace with two dining areas and lounge seating. The building at 14 Sutton Place was designed by famed New York City architect Rosario Candela and built in 1929.
The Central Park West Home Of A 1970s Record Executive
The home of the late Irwin Segelstein, a former president of Columbia Records who personally signed off on the recording of Bruce Springsteen’s “Born to Run” album, has been listed on Central Park West for $8.75 million. The 3,825-square foot pre-war unit comes with four bedrooms and five bathrooms, two terraces and views of Central Park and the New York City skyline.
Jessica Chastain’s Apartment With Old Hollywood Ties
A recently renovated apartment owned by actress Jessica Chastain full of Gilded Age details has been listed for sale at $7.4 million. The unit has four bedrooms and fourth bathrooms, and details include a bay window with Tiffany Studio-created leaded glass transoms, five wood-burning fireplaces, pocket doors, original plantation shutters and a custom copper-soaking tub. Previous owners of the apartment include famous composers and musicians Leonard Bernstein, Bobby Short and Adam Guettel. The unit is inside the Osborne building in Midtown, which is outfitted with original Tiffany glass and believed to have been Louis Comfort Tiffany’s first-ever decorating job.
Katharine Hepburn’s Longtime Townhouse
The former home of actress Katharine Hepburn is listed in Midtown East for $7.2 million, complete with 4,600 square feet of living space and a 1,000-square-foot patio garden. The townhouse is four stories tall and includes a wet bar, library, wine cellar, high ceilings and, in the primary suite, the original mirrored vanity of Hepburn herself. The home shares a private park called Turtle Bay Gardens with the 20 surrounding townhomes, whose notable residents have included musician Bob Dylan, composer Stephen Sondheim and writer E. B. White.
Tangent
A home comprising the top two floors of New York City’s famed Pulitzer Mansion on the Upper East Side is listed at $6.9 million. The house, originally built for the family of famous newspaper publisher Joseph Pulizer, was converted into 14 apartments in the 1950s. The penthouse apartment is listed for sale by Jeanette Redden and the late David Redden, the longest-serving auctioneer in Sotheby’s history, and was formerly inhabited by explorer Roy Chapman Andrews, who inspired the famous character of Indiana Jones. The unit has a terrace that is approximately 750 square feet, and includes three bedrooms, three bathrooms, staff quarters, Gilded Age architectural details and 17 original stained glass window panes.
