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

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”

255 West 11th Street with Liv Tyler and 49 East 67th Street  with Thomas and Ann Unterberg (Credit: Getty Images and Google Maps)

Here’s what sold in NYC’s luxury home market last week

110 Central Park South and Aleksandra Melnichenko (Credit: Google Maps and Getty Images)

Who’s buying what? Here are our top luxe resi sales

Lee Radziwill and her home at 160 East 72nd Street (Credit: Getty Images, Brown Harris Stevens)

Longtime home of Lee Radziwill, sister to Jackie O., sells for $4M

993 Fifth Avenue and Gilbert Harrison (Credit: Google Maps and GLC)

Retail exec sells Fifth Avenue co-op to Chanel heir for $19M

Clockwise from left: 240 Riverside Boulevar with  Charles Zegar, 111 Murray Street, and 220 Central Park South (Credit: Google Maps, Getty Images, and CityRealty)

Here are some of the Big Apple’s recent luxury resi buys

Clockwise from left: 91 Leonard Street, 141 West 11th Street, 520 Park Avenue and 115 Central Park West (Credit: StreetEasy, Google Maps)

These are the latest, greatest residential sales in NYC

565 Broome Street (Credit: iStock and 565 Broome Street)

Only in Manhattan? Luxury condo owner files “class action” because unit doesn’t have a wine cooler