25 contracts signed for $4M and up: Olshan

Number of deals inked for over $10M is down from last year

New York /
Apr.April 04, 2016 09:02 AM

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.

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.


Related Articles

arrow_forward_ios
Manhattan luxury market rebounds from late-summer slump with 31 condo sales
Manhattan luxury market rebounds from late-summer slump with 38 sales
Manhattan luxury market rebounds from late-summer slump with 38 sales
34 East 62nd Street (Google Maps)
Deal at site of UES explosion helps Manhattan set luxury contract record
Deal at site of UES explosion helps Manhattan set luxury contract record
293 Lafayette Street with Joshua Kushner and Karlie Kloss (Kushner, Getty)
Kushner-Kloss condo leads luxury market’s busiest late-August week since 2006
Kushner-Kloss condo leads luxury market’s busiest late-August week since 2006
30 Grove Street and 79 Horatio Street (Isaacs Ganz Real Estate, Sotheby's)
West Village deals bring Manhattan close to annual townhouse sales record
West Village deals bring Manhattan close to annual townhouse sales record
15 Hudson Yards and 53 West 53 Street (Hudson Yards, 53W53)
Manhattan luxury contracts dip, but units move at Hudson Yards, 53W53
Manhattan luxury contracts dip, but units move at Hudson Yards, 53W53
Leon Shaulov and 56 Leonard Street (YJP, Matt Clare/Wikimedia)
Hedge funder bruised by shorting GameStop sells Tribeca condo
Hedge funder bruised by shorting GameStop sells Tribeca condo
Manhattan contract activity picks up as discounts grow
Manhattan contract activity picks up as discounts grow
Manhattan contract activity picks up as discounts grow
90 Morton Street and 212 West 18th Street (Photos via 90MortonSt and JDS)
Walker Tower pad to sell at loss as Manhattan luxury market hits 7-month low
Walker Tower pad to sell at loss as Manhattan luxury market hits 7-month low
arrow_forward_ios

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

Loading...