The Real Deal New York

32 contracts for $4M or more signed in first week of February

Deals include penthouse at 33 East 74th Street, former bed and breakfast on West 11th Street

February 09, 2015 08:30AM

From left: 278 West 11th Street and a rendering of 33 East 74th Street

From left: 278 West 11th Street and a rendering of 33 East 74th Street

The first week of February saw a record number of contracts signed for units that cost $4 million or more, according to the most recent Olshan Realty weekly luxury market report. Buyers signed 32 contracts in that price range, the highest number for this time period since 2006.

More than half of those 32 contracts were sold off of floorplans. The deals include 20 condo units, six co-ops and six townhouses.

The biggest contract of the week was the $32 million triplex penthouse — featuring five bedrooms, five-and-a-half bathrooms and four terraces totaling more than 2,200 square feet — at 33 East 74th Street. The unit is inside Daniel Straus’ project, where he is creating a new condo building out of a row of landmarked brownstones next to the Whitney Museum on the Upper East Side. The average asking prices of the units are $5,000 per square foot.

The second biggest contract of the week was a townhouse at 278 West 11th Street, where a buyer picked up the Greek revival house for $26.5 million. The home originally hit the market for $30 million. The four-bedroom, four-bathroom property was built in 1853, includes an elevator and functioned as a purple-colored bed and breakfast before George Agiovlasitis bought the property for $8.2 million in 2011. — Claire Moses