The Real Deal New York

17 contracts signed at $4M and up: Olshan report

Labor Day and Rosh Hashanah holidays keep brakes on sales

The high holidays meant low sales volume for the Manhattan luxury market, with only 17 new contracts signed in the last week for properties costing $4 million and above, according to Olshan Realty.

Total asking price volume was $147.9 million, a bump from last week’s figure of $114 million on 16 new contracts. The median asking price was $6.6 million. The average discount on luxury units sold this week was 7 percent, with average days spent on the market at 343.

The top contract was for apartment F at 1110 Park Avenue, asking $19.25 million. The five-bedroom 5,700-square-foot duplex is located on the eighth and ninth floors of the Toll Brothers’s new condo building at the site. The Park Avenue-facing unit has four of its five bedrooms downstairs and features a kitchen designed by Christopher Peacock.

The second-largest contract was unit 10 at the Robert A.M. Stern-designed 18 Gramercy Park South, whose owner asked $18.2 million, up from $17.8 million when it first listed in June 2013. The condo, has 4,207 square feet, 4 bedrooms, and 5.5 baths, along with myriad high-end amenities, including a key to Gramercy Park. The Zeckendorf Development building was named New York’s Best New Condominium Development in 2013. [Olshan Realty]Ariel Stulberg