The Real Deal New York

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

56 Leonard penthouse tops luxury home sales for week
June 17, 2013 11:30AM

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.

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