The Real Deal New York

February sets record with 116 contracts signed for $4M or more

30 contracts signed in fourth week of February

Last month was the coldest February in New York in 81 years. This, however, wasn’t the city’s only notable record. February also saw a record-setting amount of contracts signed for $4 million or more.

In the last week of February, 30 contracts were signed at that price point, according to the latest Olshan Realty luxury report. This adds up to a total of 116 contracts for $4 million or more, a 23 percent increase since last year. The total sales volume was up 16 percent to $978 million, compared to February last year.

January saw a total of 98 contracts signed for $4 million and above.

A penthouse at Rudin Management and Global Holdings’ Greenwich Lane at 160 West 12th Street for $33 million was last week’s biggest contract. The more than 5,000-square-foot triplex penthouse includes four bedrooms, four-and-a-half bathrooms and a total of more than 3,700 square feet of outdoor space. Greenwich Lane — which is comprised of five buildings and five townhouses and won’t be done for about a year — is 77 percent sold out, according to the report.

Two multifamily townhouses at 55-57 West 88th Street for $22.5 million were the week’s second biggest contract. The townhouses, which include a total of 14,230 square feet and 12 free-market rental units, hit the market in 2013 for $26 million. [Olshan Realty] — Claire Moses