Only 2 Units Left in Manhattan Luxury Building After Penthouses Go Under Contract

A New York City building on the Upper East Side has nearly reached its capacity with only two units remaining, after two penthouse residences recently went under contract.

The two penthouses are at 200 East 75th St. Penthouse 4 has an asking price of $19,700,000 and Penthouse 2 has an asking price of $17,500,000.

The residences are located in a new boutique building with only 35 total residences within 18 floors. The architect and designer, Elizabeth Graziolo, said the entry of Hotel De Crillon in Paris was the inspiration for the lobby.

Both penthouses have five bedrooms and 5.5 baths with high ceilings, fireplaces, and outdoor terraces offering skyline views and glimpses of Central Park.

Penthouse 4 is slightly larger with nearly 5,000 square feet of living space. It has a formal dining room, eat-in kitchen with high end appliances and fixtures, along with a secondary entrance to the residence complete with a mudroom.

The corner primary suite has three walk-in closets and a five-fixture bath. The steam shower has a rain shower, a regular shower, a hand shower, and a built-in stone bench. The freestanding tub in the primary bath sits nestled under an architectural arch with an east facing window.

Penthouse 2 also has a corner primary suite, but with two walk-in closets, located in the bedroom wing off the gallery. All five bedrooms are arranged in a way to make the floor plan very flexible. All the bedrooms have en-suite baths, but can also be combined to create suites.

Amenities include a landscaped garden complete with a cozy outdoor fireplace, a porte-cochere (covered drive-in for cars), fitness center, virtual sports room with golf simulator, landscaped roof terrace with an outdoor kitchen, children's playroom, teen lounge, music room, pet washing facility, bike room, and storage.

Luxury in the Big Apple

There were 29 contracts signed in Manhattan at $4 million and above for the week ending March 22, according to the Olshan Realty Luxury Market Report.

That marked three more contracts than the week prior with a total weekly asking prices sales volume of $239,760,000.

The average asking price was $8,267,586.

The report reveals that the Manhattan luxury market has "shown stability in the face of formidable headwinds: war, a rolling stock market, and stubbornly high mortgage rates."

Morgage rates rise

Home shoppers didn't get a break when the average rate for a 30-year fixed home loan surged to 6.22% for the week ending March 19, according to Freddie Mac.

It was up 11 basis points from the 6.11% the week before. Escalating instability and renewed inflation fears fueled by the ongoing Iran war driving up oil prices contributed to the rise. But the 6.22% rate is still far lower than the average rate of 6.67% during the same period in 2025.

Sam Khater, Freddie Mac's chief economist, had an optimistic outlook following last week's rate rise, saying, "Potential homebuyers are poised for a more affordable spring homebuying season than last with the market experiencing improvements in purchase applications and pending home sales."