New development drives 24 contracts at $4M and up: Olshan report

No. 1 contract was asking $32.5 million and spent just one month on the market

New York /
Dec.December 07, 2015 10:30 AM

Of the 24 luxury pads that went into contract last week, 17 were new condos, according to Olshan Realty’s latest luxury market report.

The number of contracts signed on properties $4 million and up was the lowest for the first week of December since 2012. Last year, 32 contracts were signed during the first week of the month, representing $237 million in asking price sales volume.

This year’s asking price volume was higher, though, with total asking price sales volume of nearly $245 million during the week of Nov. 30 to Dec. 6. The average asking price was $10.2 million and the median asking price was $7.8 million. The average number of days on market was 268.

 

The top contract was an 11-room co-op at 1040 Fifth Avenue, asking $32.5 million and on the market for just a month. The 10th floor pad has five bedrooms, a library and two fireplaces. The sellers purchased it from businessman Edgar Bronfman Jr. for $21 million in 2008.

The No. 2 contract was the penthouse at 224 Mulberry Street. The pad, at Flank Development’s six-unit boutique condo, was asking $23.75 million, down from $28 million when it hit the market in April. Measuring 5,625 square feet, it has four bedrooms, four terraces, two fireplaces and two parking spaces. [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
991 5th Avenue (Photos via Gryffindor/Wikipedia Commons and the American Irish Historical Society)
Historic UES mansion hits market for $52M
Historic UES mansion hits market for $52M
37 East 12th Street and 262 Central Park West (Google Maps, iStock)
Luxury report: Patience pays off for buyer of $20M penthouse
Luxury report: Patience pays off for buyer of $20M penthouse
(Engel & Völkers Market Center, 432 Park)
Sugimoto-curated 79th floor at 432 Park quietly hits market
Sugimoto-curated 79th floor at 432 Park quietly hits market
The home of late Broadway theater producer James M. Nederlander was first listed in 2019. (Getty, Platinum Luxury Auctions)
Full-floor condo that belonged to Broadway titan heads to auction
Full-floor condo that belonged to Broadway titan heads to auction
The contract for the 53rd-floor unit was one of 16 signed last week for Manhattan properties asking above $4 million. (111w57)
Condo at 111 West 57th Street tops Manhattan luxury contracts
Condo at 111 West 57th Street tops Manhattan luxury contracts
arrow_forward_ios

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

Loading...