UPDATED: April 4 12:26 p.m.: The first quarter of the year is over, but the Manhattan residential luxury market has yet to have a week in which more than 30 contracts signed for pads asking $4 million or more, according to Olshan Realty’s weekly luxury market report.
For the week of March 28-April 3, 25 contracts were inked, according to the report. The total asking price sales volume was $179.5 million, with an average asking price of $7.1 million. The average number of days on the market was 221 days and the average discount was four percent.
Thus far in 2016, there have been 45 contracts signed for pads $10 million and above, which is down from 73 last year, and 80 in 2014, according to the report.
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The top slot this past week goes to 65A at 432 Park Avenue, asking $27.5 million. The three-bedroom, 4.5-bathroom condominium unit has 4,019 square feet and over 12-foot ceilings. Amenities at Macklowe Properties and CIM Group’s 106-unit, 1,396-foot-tall tower on Billionaires’ Row include a fitness center, a 75-foot pool, private dining, parking, a garden, and a children’s playroom.
The No. 2 contract was 16Q at the Century at 25 Central Park West, asking $8.6 million, which sold immediately. The 2,609-square-foot corner condo has three bedrooms and four bathrooms with a living room and dining room that offer views of Central Park. The unit was sold with a ground-floor staff room. [Olshan Realty] — Dusica Sue Malesevic
Correction: A previous version of this post said 432 Park has 125 units, it has 106.