112 contracts signed in November at $4M-plus: Olshan

Just 10 contracts signed during last week's Thanksgiving slump

TRD New York /
Nov.November 30, 2015 10:30 AM

Despite just 10 contracts signed on properties $4 million and up last week (Turkey hangover, anyone?), the luxury market had its best November since 2006, according to Olshan Realty’s weekly market report.

A total of 112 contracts were signed in the last four weeks, compared with 95 in November 2015. The asking price volume in November was more than $863 million — $12 million more than last year.

For the week of Nov. 23-29, the 10 contracts signed represented asking price sales volume of $66 million. The average asking price was $6.6 million and the median price was $5.4 million. The average discount was 6 percent.

The top contract was a townhouse at 21 East 83rd Street, which was asking $14.75 million, an 18 percent discount from the original price of $18 million when the house hit the market in April. The 5,100-square-foot house is five stories, and it was last purchased for $3.375 million in 2000.

The No. 2 contract was a duplex condo at 530 Park Avenue, developer Aby Rosen’s rental-to condo-conversion. Rosen’s RFR Holding was asking $8.925 million, or $3,308 per foot for the unit, which has 2,698 square feet, three bedrooms and a library overlooking Park Avenue. [Olshan Realty]EB Solomont


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