The Real Deal New York

20 contracts signed at $4M and above: Olshan

Luxury sales have slipped behind 2014, 2015
January 18, 2016 11:30AM

With 20 contracts signed on luxury pads last week, Manhattan’s residential market isn’t quite keeping pace with years past, according to Olshan Realty’s weekly market report.

So far this year, there have been 41 contracts signed on properties $4 million and up, compared with 46 during the same time last year and 59 during the first few weeks of January 2014.

The total asking price sales volume was $198.7 million during the week of Jan. 11-17, with an average asking price of $9.9 million. The median discount was 7 percent and the average number of days on market was 334.

The No. 1 contract was a penthouse at the Puck Penthouses at 295 Lafayette Street, which was asking $35.1 million. The condominium has 5,222 square feet, plus a landscaped terrace measuring another 799 square feet. The pad has barrel-vaulted ceilings and a fireplace.

The No. 2 contract was a duplex at the El Dorado at 300 Central Park West asking $24.95 million, down from $29 million in February 2015. The co-op occupies the top two floors of the building’s North Tower, and the top floor features three terraces and a solarium that once was used as a communal club by the building’s early residents. [Olshan Realty] — E.B. Solomont