32 contracts for $4M or more signed in first week of February

Deals include penthouse at 33 East 74th Street, former bed and breakfast on West 11th Street

New York /
Feb.February 09, 2015 08:30 AM

The first week of February saw a record number of contracts signed for units that cost $4 million or more, according to the most recent Olshan Realty weekly luxury market report. Buyers signed 32 contracts in that price range, the highest number for this time period since 2006.

More than half of those 32 contracts were sold off of floorplans. The deals include 20 condo units, six co-ops and six townhouses.

The biggest contract of the week was the $32 million triplex penthouse — featuring five bedrooms, five-and-a-half bathrooms and four terraces totaling more than 2,200 square feet — at 33 East 74th Street. The unit is inside Daniel Straus’ project, where he is creating a new condo building out of a row of landmarked brownstones next to the Whitney Museum on the Upper East Side. The average asking prices of the units are $5,000 per square foot.

The second biggest contract of the week was a townhouse at 278 West 11th Street, where a buyer picked up the Greek revival house for $26.5 million. The home originally hit the market for $30 million. The four-bedroom, four-bathroom property was built in 1853, includes an elevator and functioned as a purple-colored bed and breakfast before George Agiovlasitis bought the property for $8.2 million in 2011. — Claire Moses


Related Articles

arrow_forward_ios
37 East 12th Street and 262 Central Park West (Google Maps, iStock)
Luxury report: Patience pays off for buyer of $20M penthouse
Luxury report: Patience pays off for buyer of $20M penthouse
The contract for the 53rd-floor unit was one of 16 signed last week for Manhattan properties asking above $4 million. (111w57)
Condo at 111 West 57th Street tops Manhattan luxury contracts
Condo at 111 West 57th Street tops Manhattan luxury contracts
109 East 79th Street and 1010 Park Avenue (Google Maps)
Upper East Side trophy property tops luxury deals — again
Upper East Side trophy property tops luxury deals — again
20 East End Avenue and 292 West 4th Street (Google Maps)
Manhattan’s luxury market has best post-Christmas week since 2006
Manhattan’s luxury market has best post-Christmas week since 2006
Henry Buhl and 114 Greene Street (Getty, Google Maps)
Soho sale by art collector Henry Buhl tops Manhattan luxury deals
Soho sale by art collector Henry Buhl tops Manhattan luxury deals
There was a 31 percent decline in contracts signed for properties above $4 million compared to last year. (iStock)
“A garbage year”: The state of Manhattan’s luxury resi market in 2020
“A garbage year”: The state of Manhattan’s luxury resi market in 2020
Barry Sternlicht and 150 Charles Street (Photos via Getty; Compass)
Barry Sternlicht inks contract to sell $40M West Village condo
Barry Sternlicht inks contract to sell $40M West Village condo
A rendering of 1228 Madison Avenue and 49 Greene Street (Photos via Robert A.M. Stern Architects; Google Maps)
Manhattan luxury market has another strong week
Manhattan luxury market has another strong week
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...