18 contracts signed last week at $4M and above: Olshan

January sees just 74 contracts, down from 98 a year ago

Feb.February 01, 2016 09:34 AM

Buyers signed 18 contracts on Manhattan properties priced at $4 million and up during the last week of January, concluding a “disappointing” first month of 2016, according to Olshan Realty’s weekly luxury market report.

There were 74 contracts signed last month, a 21 percent drop from the 98 contracts signed in January 2015. (There were also 98 contracts signed in January 2014.)

For the week of Jan. 25-31, the total weekly asking price sales volume was $117.7 million with an average asking price of $6.5 million. Properties spent 354 days on the market, on average, with an average discount of 9 percent.

The top contract was a three-bedroom condo at 33 East 74 Street, asking $16.5 million. With 3,851 square feet, the property is located in a boutique building within a row of landmark brownstones. The project launched in January 2014 and reportedly has five units sold.

The No. 2 contract was a six-story, new construction townhouse at 182 East 94th Street, asking $9.5 million, a drop from $10.5 million in April. The developer built the 5,000-square-foot home in 2006, after buying a parking lot at the site for $450,000. The home has five bedrooms, an elevator, garage and roof terrace. [Olshan Realty] – E.B. Solomont

Related Articles

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”

Here are the week’s top luxury sales

Here are the week’s top luxury sales

Chrissy Teigen and John Legend with 374 Broome Street (Credit: Karwai Tang/Getty Images; Google Maps)

John Legend, Chrissy Teigen snap up another Nolita penthouse

Marc Jacobs with 68 Bethune Street (Credit: Jacobs by Randy Brooke/WireImage; Townhouse by Nest Seekers via StreetEasy)

Marc Jacobs gets what he paid for West Village pad: $10.5M

The Gretsch at 60 Broadway in Williamsburg. (Credit: Douglas Elliman via StreetEasy)

Williamsburg pad hits market for almost $9M

Dennis and Karen Mehiel with 3 East 95th Street (Photo by Will Ragozzino/Patrick McMullan via Getty Images; Sotheby's)

Carhart Mansion duplex returns to market after four years

Ghost Towers

NYC’s ghost towers: How many Manhattan luxury condos are owned by people who don’t live there?