The Real Deal New York

25 contracts signed for $4M and up: Olshan

Number of deals inked for over $10M is down from last year

April 04, 2016 09:02AM

From top left: 432 Park Avenue (Credit: DBOX), 25 Central Park West (Credit: Brown Harris Stevens), lobby at 30 Park Place (Credit: Corcoran Group) and 845 United Nations Plaza (Credit: Town Residential)

From top left: 432 Park Avenue (Credit: DBOX), 25 Central Park West (Credit: Brown Harris Stevens), lobby at 30 Park Place (Credit: Corcoran Group) and 845 United Nations Plaza (Credit: Town Residential)

UPDATED: April 4 12:26 p.m.: The first quarter of the year is over, but the Manhattan residential luxury market has yet to have a week in which more than 30 contracts signed for pads asking $4 million or more, according to Olshan Realty’s weekly luxury market report.

For the week of March 28-April 3, 25 contracts were inked, according to the report. The total asking price sales volume was $179.5 million, with an average asking price of $7.1 million. The average number of days on the market was 221 days and the average discount was four percent.

Thus far in 2016, there have been 45 contracts signed for pads $10 million and above, which is down from 73 last year, and 80 in 2014, according to the report.

(Click to enlarge)

The top slot this past week goes to 65A at 432 Park Avenue, asking $27.5 million. The three-bedroom, 4.5-bathroom condominium unit has 4,019 square feet and over 12-foot ceilings. Amenities at Macklowe Properties and CIM Group’s 106-unit, 1,396-foot-tall tower on Billionaires’ Row include a fitness center, a 75-foot pool, private dining, parking, a garden, and a children’s playroom.

The No. 2 contract was 16Q at the Century at 25 Central Park West, asking $8.6 million, which sold immediately. The 2,609-square-foot corner condo has three bedrooms and four bathrooms with a living room and dining room that offer views of Central Park. The unit was sold with a ground-floor staff room. [Olshan Realty]Dusica Sue Malesevic

Correction: A previous version of this post said 432 Park has 125 units, it has 106.

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