21 contracts signed at $4M and above: Olshan

Top contract was $15.9M condo at the Grand Millennium

TRD New York /
Apr.April 25, 2016 09:30 AM

Luxury buyers scooped up 21 pads asking $4 million or more last week, according to Olshan Realty’s weekly market report. That figure pales in comparison to the 41 contracts signed during the same period last year.

Instead, contract activity for the week of April 18-24 was roughly the same as 2012, Olshan Realty reported.

The total weekly asking price sales volume was $184.3 million with an average asking price of $8.8 million. The average number of days on market was 244 days and the average discount – from the original asking price to the last asking price – was 8 percent.

The top contract was a 4,100-square-foot condo at the Grand Millennium at 1965 Broadway, which was asking $15.9 million. It was last purchased for $10.25 million in 2013, and has six bedrooms and 5.5 baths.

Next up was a combination unit at 40 East 94th Street that was asking $14 million. Previously three smaller units, the 4,600-square-foot condo has five bedrooms, 4.5 baths, a media room and library. [Olshan Realty] – E.B. Solomont

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