Record-breaking 157 contracts signed for $4M or more in May

New deals totaled $1.2 billion

TRD New York /
Jun.June 01, 2015 08:30 AM

The month of May has set a record for most contracts signed for $4 million or more, according to this week’s Olshan Realty luxury report.

The last week of the month saw 27 contracts signed at that price point, bringing the total to 157, which is the highest number since Olshan Realty started tracking the deals in 2005. Last May, there were 145 contracts signed for $4 million or more.

The month’s contracts add up to a sum of $1.2 billion.

The biggest contract of the week was a penthouse at Scott Resnick’s 551 West 21st Street for $40 million. The full-floor unit spans 6,137 square feet and includes three bedrooms, 3.5 bathrooms and a chef’s kitchen. The apartment comes with a 57-foot terrace. Norman Foster’s Foster+Partners designed the 44-unit condo project. Prices in the building average $3,372 per square foot.

The second biggest contract signed was a 14th floor unit at the Naftali Group’s 210 West 77th Street for $12 million. The five-bedroom, 4.5-bathroom pad has two private outdoor terraces and spans 3,519 square feet. Thomas Juul-Hansen designed the 25-unit building. [Olshan Realty] — Claire Moses


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Wendy Silverstein (Credit: Getty Images)

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

Struggling cannabis retailer MedMen dumps REIT stake

Struggling cannabis retailer MedMen dumps REIT stake

Huizenga lobbied Rick Scott to secure Opportunity Zone designation for West Palm site

Huizenga lobbied Rick Scott to secure Opportunity Zone designation for West Palm site

Charles Kushner and 229 West 43rd Street (Credit: Getty Images)

Kushner Cos needs loan workout as Times Square tenants tank

Merchants Hospitality's Abraham Merchant and Adam Hochfelder with the Playboy Club (Credit: Getty Images, Playboy Club NYC)

Merchants scrambles to fill void after breakup with Playboy

A $2.5B litmus test for the Century City luxury market

A $2.5B litmus test for the Century City luxury market

arrow_forward_ios