Chilly week for luxury, with 25 contracts signed: Olshan

The average asking price was $7.3 million
October 26, 2015 11:00AM

Buyers gave luxury properties in Manhattan the cold shoulder last week, with just 25 contracts signed on properties $4 million and up, according to Olshan Realty’s weekly luxury market report.

That’s a dip from 31 contracts signed last week, and this week’s average discount – the difference from the original asking price to the last asking price – was 7 percent, compared to 2 percent last year at this time.

For the week of Oct. 19-25, the total weekly asking price sales volume was nearly $182 million, with an average asking price of $7.3 million and median asking price of $5.995 million. The average number of days on the market was 249.

The top contract was a penthouse at developer Roy Stillman’s Schumacher condominium, a 20-unit project at 36 Bleecker Street. The duplex, with 4,571 square feet of space, was asking $19.9 million, down from $23 million when it hit the market in June 2013. The pad has four bedrooms, four bathrooms, two fireplaces, 13-foot ceilings and a terrace.

The No. 2 contract was a condo at Trump International’s 1 Central Park West, which was asking $14.775 million, down from $15.25 million when the apartment was first listed in June. The 35th-floor unit, measuring 3,059 square feet, has three bedrooms and four bathrooms. [Olshan Realty] – E.B. Solomont