Manhattan luxury sales volume hit a 2016 high last week

29 contracts signed at $4M and above: Olshan

New York /
May.May 16, 2016 09:00 AM

Manhattans’ high-end residential market saw another strong week, with a total of 29 contracts at $4 million and above signed last week, including the most expensive contract so far this year, according to Olshan Realty’s weekly market report.

That makes three weeks in a row of relative bumper crops in the submarket, as 28 luxury contracts were signed between May 2 and 8 and between April 25 and May 1.

Downtown condominium units made just over half the units that went into contract, with 14. In all, 18 of the 29 deals this month were made Downtown. The average asking price of the units sold last week was $9.7 million, and the average discount was just 4 percent. Units sold last week spent an average of 260 days on the market.

The priciest sale this week was PH88 at Macklowe Properties and CIM Group’s 432 Park Avenue on Billionaires’ Row in Midtown, which went into contract for $76.5 million. The five-bedroom, 8,055-square-foot condo features a 44-foot living room, a library with a fireplace and massive 10 by 10 foot windows.

The second-most expensive contract contract was for a penthouse at Novare, the Greenwich Village Methodist church that development firm Flank converted into eight condominiums in 2006. The buyer paid $12.5 million for a the three-bedroom duplex condo, which includes a planted terrace and a 20-foot-high ceiling on the top floor. The unit last sold in 2010 for $6.3 million. [Olshan Realty]Ariel Stulberg


Related Articles

arrow_forward_ios
50 West 66th Street and the One57 building at 157 West 57th Street (Extell Development, One57)
Extell properties top Manhattan’s luxury contracts
Extell properties top Manhattan’s luxury contracts
15 East 90th Street and 325 West Broadway (Getty, CityRealty, Streeteasy)
Thanksgiving-week buyers gobble up 15 luxury Manhattan homes
Thanksgiving-week buyers gobble up 15 luxury Manhattan homes
Unit 124 at 217 West 57th Street and Gary Barnett (Extell Development, StreetEasy)
“124th floor” at Central Park Tower tops Manhattan luxury contracts
“124th floor” at Central Park Tower tops Manhattan luxury contracts
464 Greenwich Street, Mickey Drexler (Getty, Corcoran)
Quirky homes top Manhattan’s luxury contracts
Quirky homes top Manhattan’s luxury contracts
A photo illustration of Joseph Chetrit and 215 East 19th Street (Getty, Google Maps)
Chetrit-developed Gramercy condo leads Manhattan luxury contracts
Chetrit-developed Gramercy condo leads Manhattan luxury contracts
Elad Group's Isaac Tshuva and 250 West Street (Elad Group, Getty Images, Naftali Group, Getty)
Elad’s 250 West Street tops Manhattan luxury’s cool week
Elad’s 250 West Street tops Manhattan luxury’s cool week
3 East 95th Street and 267 West 11th Street (Google Maps, Getty)
Carhart Mansion unit in contract as Manhattan luxury market bounces back
Carhart Mansion unit in contract as Manhattan luxury market bounces back
Related Companies' Stephen Ross and 25 Columbus Circle (Streeteasy, Getty, Related)
Steve Ross’ penthouse tops Manhattan contracts despite big price cut
Steve Ross’ penthouse tops Manhattan contracts despite big price cut
arrow_forward_ios

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

Loading...