The Real Deal New York

24 contracts signed at $4M-plus: Olshan

No. 1 contract was $17.5M PH at 25 Mercer

June 06, 2016 10:33AM

25Mercer

Clockwise from top left: 25 Mercer Street, 252 East 57th Street, 221 West 77th Street and 1120 Fifth Avenue

Luxury buyers inked contracts at 24 pads priced at $4 million and up, according to Olshan Realty’s weekly residential market report.

The dip, attributable to Memorial Day, resulted in a total weekly asking price sales volume of $154.56 million. For the week beginning May 30, the average asking price was $6.4 million. The average discount was 5 percent.

The top contract was at 25 Mercer Street, a penthouse asking $17.5 million. The triplex, measuring 4,584 square feet, includes two terraces with another 2,600 square feet. The five-unit boutique building, being developed by Michael Kirchmann’s GDS Development launched sales in April.

The No. 2 contract was a condo at 252 East 57th Street, asking $11.4 million down from $13.4 million when it hit the market in March 2015. Developed by World Wide Group and Rose Associates, the unit has 3,331 square feet, with a 39-foot living room with balcony. [Olshan Realty] – E.B. Solomont

MENU