15 contracts signed at $4M and above: Olshan

Luxe homes averaged 347 days on market

New York /
Jan.January 11, 2016 10:00 AM

Manhattan buyers signed 15 contracts on properties $4 million and up last week, according to Olshan Realty’s weekly luxury market report. But on average, the pricey pads spent nearly a year – 347 days, to be exact – on the market.

The week’s total asking price sales volume was $125.6 million, with an average asking price of $8.4 million. The average discount was nine percent.

The No. 1 contract was a penthouse at Trump Park Avenue at 502 Park Avenue, asking $16.8 million. Measuring nearly 4,200 square feet, the condo has four bedrooms, six bathrooms and a 69-foot library facing Park Avenue. The prior owner paid $7.7 million in 2010.

Coming in at No. 2 was Unit 5 at the Tadao Ando-designed condominium at 152 Elizabeth Street. The 4,094-square-foot unit, which was asking $15.2 million, is one of seven units in the glass-and-concrete development. [Olshan Realty]E.B. Solomont


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