21 luxury contracts signed, half in new construction: Olshan

The No. 1 contract was a townhouse asking $15.95M – 36% off original ask

New York /
Feb.February 15, 2016 12:30 PM

Well-heeled buyers scooped up 21 properties priced at $4 million and up last week, half of them in new development, according to Olshan Realty’s weekly luxury market report.

But luxury Manhattan homes, on average, spent more than a year on the market before going into contract, according to the report, which found properties above $4 million took an average of 368 days to sell.

For the week of Feb. 8-14, the total asking price sales volume was $146.2 million, with an average asking price of $6.9 million. The average discount was 9 percent.

The No. 1 contract was a townhouse at 400 West Street, asking $15.950 million – a steep discount from original asking price of $25 million in 2009.

Robert and Cortney Novogratz, television personalities and house flippers, lived in the West Village house with their seven children. The 7,180-square-foot house has five bedrooms, a basketball court and elevator; the Novogratz family purchased it for $4.3 million in 2007 and expanded it.

The No. 2 contract was a co-op at 1120 Fifth Avenue, asking $15.5 million, down slightly from the $15.9 million initial price in September. The seller purchased the unit – which is a 12-room corner apartment – for $9.5 million in 2004. [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”
Gary Barnett with Central Park Tower (Getty)
Central Park Tower condo sells for $20M off asking
Central Park Tower condo sells for $20M off asking
50 West 66th Street and the One57 building at 157 West 57th Street (Extell Development, One57)
Extell properties top Manhattan’s luxury contracts
Extell properties top Manhattan’s luxury contracts
15 East 90th Street and 325 West Broadway (Getty, CityRealty, Streeteasy)
Thanksgiving-week buyers gobble up 15 luxury Manhattan homes
Thanksgiving-week buyers gobble up 15 luxury Manhattan homes
Unit 124 at 217 West 57th Street and Gary Barnett (Extell Development, StreetEasy)
“124th floor” at Central Park Tower tops Manhattan luxury contracts
“124th floor” at Central Park Tower tops Manhattan luxury contracts
Midwood's John Usdan and 150 East 78th Street (Midwood Investment & Development)
Midwood sells $33M penthouse at UES condo project
Midwood sells $33M penthouse at UES condo project
464 Greenwich Street, Mickey Drexler (Getty, Corcoran)
Quirky homes top Manhattan’s luxury contracts
Quirky homes top Manhattan’s luxury contracts
Quay Tower at 50 Bridge Park Drive in Brooklyn Heights and 122 Congress Street in Cobble Hill (StreetEasy, Google Maps)
Quay Tower tops Brooklyn luxury contracts once more
Quay Tower tops Brooklyn luxury contracts once more
arrow_forward_ios

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

Loading...