The Real Deal New York

Manhattan luxury real estate market saw its best week yet this year: Olshan

26 contracts signed at $4M or more
March 14, 2016 11:01AM


On the left: 14 West 69th Street (Credit: Trulia) Above right: 959 First Avenue (Credit: Toll Brothers City Living) and 115 Central Park West (Credit: Sotheby’s)

The Manhattan residential luxury market saw its best week of 2016, with 26 contracts signed for pads asking $4 million or more, according to Olshan Realty’s weekly luxury market report.

For the week of Mar. 7-13, the total weekly asking price sales volume was $187.2 million with an average asking price of $7.2 million. The average number of days on the market checked in at 226 and the average discount was four percent. While this week’s 26 contracts inked has been the highest total this year, last year around this time 37 contracts were signed.

Credit: Olshan Realty

Number of condo and co-op contracts signed weekly at $4M and up (Credit: Olshan Realty)

The No. 1 contract was a brownstone at 14 West 69th Street, asking $15.5 million. This 25-foot-wide building has 10,020 square feet that is divided into 15 apartments, and is being sold free and clear of tenants.

The No. 2 contract was Penthouse 1 at the Toll Brothers City Living’s 959 First Avenue, known as the Sutton. The four-bedroom, 4.5-bathroom triplex has 3,503 square feet and terraces totaling 1,770 square feet with an asking price of $11.8 million. Both the master suite on the second floor and a family room on the top floor features a 31-foot terrace. The terrace on the upper level also has a swimming pool. The 113-unit, 29-story condominium building also has a fitness center, garden, children’s playroom and storage rooms. [Olshan Realty]Dusica Sue Malesevic