Not many luxury contracts last week, but a few big ones: Olshan

19 deals signed at $4M and above, including the Baccarat PH asking $54M

New York /
Jun.June 13, 2016 11:30 AM

Luxury residential sales volume had a slow week, but a handful of major purchases kept things interesting, according to Olshan Realty’s weekly market report.

Buyers signed a total of 19 new contracts at $4 million or above last week. That followed a Memorial Day week in which 24 contracts were signed.

The average asking price for luxury units sold last week was an unusually-high 12.7 million. The average discount from the original asking price was 6 percent, and units sold this week spent an average of 350 days, nearly a year, on the market.

The largest contract was for the five-bedroom, 7,381-square-foot duplex penthouse at the Baccarat Hotel and Residences at 20 West 53rd Street. The apartment features a 41-foot terrace and Central Park views. The developers, Starwood Capital Group and Tribeca Associates, were asking $54 million at the time of the sale — down from $60 million when the unit first listed.

The second highest-priced contract was for a 25-foot-wide Greek Revival townhouse at 27 East 11th Street. The five-story, seven-bedroom home has a roof deck, two terraces, a landscaped garden, an elevator and seven fireplaces. The seller asked $29.995 million, down from $33.875 million when it listed in October. [Olshan Realty]Ariel Stulberg


Related Articles

arrow_forward_ios
Here are the week’s top luxury sales
Here are the week’s top luxury sales
Here are the week’s top luxury sales
Clockwise from left: John D. Rockefeller, Izzy Englander, Steven Mnuchin, David Koch, Jacqueline Bouvier, and William Zeckendorf (Credit: Getty Images and StreetEasy)
For 15 years, David Koch lived at the world’s “richest building”
For 15 years, David Koch lived at the world’s “richest building”
Here are the week’s top luxury sales
Here are the week’s top luxury sales
Here are the week’s top luxury sales
53 Downing Street (Compass)
Gut-renovated West Village townhouse tops Manhattan’s priciest contracts
Gut-renovated West Village townhouse tops Manhattan’s priciest contracts
From left: 200 Amsterdam, Extell's Gary Barnett with Central Park Tower and 130 William Street 
These buildings were the best-selling new developments of 2021
These buildings were the best-selling new developments of 2021
41 Central Park West and Stephen Burke (Harperly Hall, Getty)
NBCUniversal chairman Stephen Burke lists co-op for $19M — again
NBCUniversal chairman Stephen Burke lists co-op for $19M — again
1 Central Park West and Andrew Napolitano with Donald Trump (Trump Org, Getty, iStock)
Judge Andrew Napolitano ditches Trump condo after Fox News ouster
Judge Andrew Napolitano ditches Trump condo after Fox News ouster
160 Henry Street and 30 Main Street (Compass, Zillow, iStock)
Brooklyn Heights, Dumbo units lead borough’s luxury contracts in first week of 2022
Brooklyn Heights, Dumbo units lead borough’s luxury contracts in first week of 2022
arrow_forward_ios

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

Loading...