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
PHE at 51 Jay Street and 4 Hunts Lane (Compass)
Dumbo penthouse leads Brooklyn’s luxury market
Dumbo penthouse leads Brooklyn’s luxury market
The penthouse in Lightstone's 40 East End with developer David Lichtenstein (Lightstone)
After early-July lull, Manhattan luxury deals are on the upswing again
After early-July lull, Manhattan luxury deals are on the upswing again
At 432 Park, a $30M condo is in default and its owner has vanished
At 432 Park, a $30M condo is in default and its owner has vanished
At 432 Park, a $30M condo is in default and its owner has vanished
Bess Freedman
Watch Bess Freedman’s Master Class
Watch Bess Freedman’s Master Class
50 Hicks Street and 170 Carroll Street (Photos via Compass, Leslie J. Garfield)
Brooklyn sees 21 luxury contracts signed — again
Brooklyn sees 21 luxury contracts signed — again
arrow_forward_ios

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

Loading...