$4M-plus property contracts set September weekly record

28 properties that went into contract at that amount last week

TRD New York /
Sep.September 23, 2014 04:05 PM

A record number of properties priced at $4 million or more went into contract last week, from Sept. 15-21, according to Olshan Realty’s luxury market report.

The 28 properties that went into contract at that amount set a record for the month of September, and that number excluded an additional eight contracts at 10 Madison Square West that didn’t make the cut because the development was late reporting sales. At the Witkoff Group development, only four of the 124 units — priced from $5 million to $35 million for the penthouse — remain available.

In total last week, seven co-op units asking an average of $8.34 million went into contract, while 27 condominiums asking an average of $8.16 million did so. Two townhouses, asking $5.57 million on average, also went into contract last week.

The total weekly asking price sales volume was just over $290 million, while the median asking price was $6.4 million, according to the report. — Julie Strickland


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