Downtown pads give luxury market a boost: Olshan

21 contracts signed at $4M and up between Oct. 5-11

TRD New York /
Oct.October 12, 2015 10:55 AM

Manhattan’s luxury market is sluggish no longer, with 21 contracts signed last week on properties $4 million and up, according to Olshan Realty’s weekly luxury market report.

The top six deals were located Downtown, according to the report, which logged a weekly asking price volume of $140.3 million. That’s up from 13 contracts and $81.8 million in asking price volume during the last week of September, and 10 contracts and $65.8 million in asking price volume the week before that.

Between Oct. 5 and 11, the median asking price was $5.75 million and the average number of days on the market was 207.

The top contract was a 6,800-square-foot townhouse at 156 Reade Street that was listed for $13.995 million, down from an original asking price of $16 million in September 2014. Featuring double-high ceilings, a glass staircase and rooftop terrace, the home also has “green” features added in the early 2000s, including geothermal heating and cooling, a water filtration system and sidewalk with radiant heat. The seller paid $7.7 million for the house in 2006.

The No. 2 contract was a flip at the Tribeca Summit at 415 Greenwich Street. The $12 million penthouse closed in March for $7.74 million. Measuring 4,470 square feet, it has a massive 2,766-square-foot terrace, but was being sold as a “white box” with architectural plans that allow for six bedrooms and 5.5 bathrooms. [Olshan Realty]E.B. Solomont


Related Articles

arrow_forward_ios
Here are the week’s top luxury sales

Here are the week’s top luxury sales

Here are the week’s top luxury sales
Clockwise from left: John D. Rockefeller, Izzy Englander, Steven Mnuchin, David Koch, Jacqueline Bouvier, and William Zeckendorf (Credit: Getty Images and StreetEasy)

For 15 years, David Koch lived at the world’s “richest building”

For 15 years, David Koch lived at the world’s “richest building”
Here are the week’s top luxury sales

Here are the week’s top luxury sales

Here are the week’s top luxury sales
443 Greenwich Street and 157 West 57th Street (Wikipedia Commons, StreetEasy)

Manhattan luxury contracts slow as city reopens

Manhattan luxury contracts slow as city reopens
Ghost Towers

NYC’s ghost towers: How many Manhattan luxury condos are owned by people who don’t live there?

NYC’s ghost towers: How many Manhattan luxury condos are owned by people who don’t live there?
56 Cooper Square and 500 Park Avenue (Google Maps)

Manhattan luxury contracts reach 13-week high

Manhattan luxury contracts reach 13-week high
111 West 57th Street and 20 East 78th Street (JDS, Google Maps)

Manhattan luxury contracts hit 12-week pandemic high

Manhattan luxury contracts hit 12-week pandemic high
Ashraf Pahlavi and 29 Beekman Place (Getty, Compass)

Iranian princess’ Midtown palace finally finds a buyer

Iranian princess’ Midtown palace finally finds a buyer
arrow_forward_ios

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

Loading...