21 luxury contracts signed, half in new construction: Olshan

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

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

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?