The Real Deal New York

Luxury townhouse sales tie weekly record: report

Seven townhouses sold for $4M and up between Jan. 5-11, according to Olshan Realty

January 12, 2015 09:54AM

From left: 271 West 10th Street, renderings of the property

From left: 271 West 10th Street, renderings of the property

Townhouse sales took off last week, according to Olshan Realty’s weekly luxury market report. Seven townhouses priced at $4 million and up went into contract during the week ending Jan. 11, tying the weekly record, the firm reported today. “Townhouses comprise a sector of the market where buyers often find a big bang for the buck,” the report said. In all, 23 contracts were signed on properties $4 million and up. The week’s top contract was a duplex penthouse at 770 Park Avenue asking $19.95 million.

The No. 2 contract for the week was a townhouse at 271 West 10th Street that was asking $17.25 million. Even with a $250,000 price cut from July, that’s head and shoulders above the $5.5 million the owners paid in January 2013. The 27-foot carriage house, which measures 7,657 square feet, has not been renovated; but it was sold with approved plans designed with a single-gar garage and at least four bedrooms. Developer Alf Naman sold the property. [Olshan Realty] – E.B. Solomont