Contracts for $10M-plus homes twice as high as in 2012

56 Leonard penthouse tops luxury home sales for week

Rendering of 56 Leonard penthouse
Rendering of 56 Leonard penthouse

So far this year, 133 contracts have been signed for Manhattan homes asking $10 million and up — more than double the number at this point in 2012, according to the latest market report from residential brokerage Olshan Realty, which looks at properties priced at $4 million or more.

A penthouse at 56 Leonard, listed for $31.5 million, was the priciest of the 32 contracts signed last week. Penthouse 59 is a five-bedroom, five-and-a-half-bathroom condo spanning 5,825 feet at the Tribeca new development, constructed by Alexico Group and Hines.

The unit is one of 10 penthouses sold off of floor plans in a building that will not be completed for at least two years. It is the fifth Manhattan home to be sold for more than $30 million this year, the report said.

The second-largest contract was a 12-room duplex co-op at 950 Fifth Avenue, asking $26 million. The apartment had briefly been under contract to developer William Macklowe, but he failed to pass the co-op board application, as previously reported.

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Of the 32 contracts signed last week, 19 were condos, 11 co-ops, one was a cond-op and one a townhouse. For condos, the average ask was $8.76 million, and average price per square foot was $2,954. The average ask for co-ops was $10.55 million. The total weekly asking price sales volume was $304.1 million, the report said. – Mark Maurer