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
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”
(Photo Illustration by The Real Deal with Getty)
New listings in Manhattan, Brooklyn rise for first time in 4 months
New listings in Manhattan, Brooklyn rise for first time in 4 months
Tamir Shemesh and Ryan Serhant
Top broker Tamir Shemesh out at Serhant
Top broker Tamir Shemesh out at Serhant
Louis Buckworth with 520 Park Ave
520 Park Avenue unit sells for $22M in rare resale
520 Park Avenue unit sells for $22M in rare resale
Williamsburg apartment buildings
Williamsburg penthouse tops Brooklyn’s luxury contracts
Williamsburg penthouse tops Brooklyn’s luxury contracts
10 Riverside Boulevard (One Waterline Square, Getty)
Holiday hangover: Manhattan’s luxe market is stuck
Holiday hangover: Manhattan’s luxe market is stuck
Joe Tsai with 220 Central Park South, Vlad Doronin with 730 Fifth Avenue, Paul Allen with 4 East 66th Street, Michael Stern with 111 57th Street
Here are NYC’s 10 priciest homes of 2022
Here are NYC’s 10 priciest homes of 2022
Reed and Delphine Krakoff along with 54 East 64th Street (Getty, Google Maps)
Fashion bigwig sells townhouse for $36M after two price cuts
Fashion bigwig sells townhouse for $36M after two price cuts
arrow_forward_ios

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

Loading...