The Real Deal New York

22 contracts signed at $4M and up: Olshan report

Top contract was $20 million townhouse at 24 West 11th Street

August 31, 2015 10:30AM


Clockwise from top left: 24 West 11th Street, 150 Charles, 443 Greenwich and 445 Lafayette

“Steady if unspectacular” was Olshan Realty’s take on last week’s Manhattan luxury market, with 22 contracts signed at $4 million and up.

With a total weekly asking price sales volume of $176.4 million, up from $159.3 million last year, the average asking price was $8.02 million. The median asking price was $6.7 million and the number of days on properties were on the market was 274.

Olshan-082415-3But if the week was less than exciting, the top two contracts show the dramatic price appreciation that’s taken place over the past few years.

The top contract, a 21-foot wide townhouse at 24 West 11th Street, was asking $20 million – a premium over the previous sales price of $12.2 million in 2009. The four-story Greek Revival house, which measures 6,250 square feet, has four bedrooms, four bathrooms, two powder rooms, a library and elevator. (The house sold for $6.7 million in 2007.)

The No. 2 contract was a three-bedroom condo at the Witkoff Group’s 150 Charles Street, asking $16.95 million. The unit, 11C, measures 2,743 square feet, and it originally sold off of floorplans for $12.25 million when the building launched sales in 2013. Witkoff recently allowed buyers to flip contracts, which the contract-holder did in this case. [Olshan Realty]E.B. Solomont