The Real Deal New York

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

Labor Day and Rosh Hashanah holidays keep brakes on sales
September 14, 2015 10:30AM

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