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26 contracts signed for $4M or more in third week of May
Priciest pad of the week was a condo at Property Markets Group's 823 Park Avenue
A total of 26 contracts for $4 million or more were signed in the week leading up to Memorial Day, according to the latest Olshan Realty luxury report.
The biggest contract of the week was a fourth floor condo at 823 Park Avenue for $13.8 million. The five-bedroom, 4.5-bathroom apartment spans 4,184 square feet. The pad’s living room and library span 45 feet across Park Avenue.
Kevin Maloney‘s Property Markets Group converted the building from rentals to condos in 2005. Earlier this month, residents at the building sued PMG for faulty insulation that caused mold to grow throughout the building.
The unit last traded hands in 2007 for $11.2 million.
The second biggest contract — just like the week prior — was a condo at The Plaza Hotel for $11.45 million. The 1,985-square-foot apartment includes two bedrooms and 2.5 bathrooms, that all face Central Park. Sony Music chief executive officer Doug Morris is selling the pad. He bought it for $9 million in 2007. [Olshan Realty] — Claire Moses