Banner week for city’s luxury residential market

10 contracts were signed for over $10M: Olshan

New York /
Nov.November 07, 2016 10:00 AM

There’s finally a good news story out of New York City’s luxury residential market.

Last week saw 10 contracts signed at $10 million and above, the highest total of the year, according to the weekly market report from Olshan Realty.

Out of the 24 contracts signed in the $4 million and above market, 18 were for condominiums (with an average ask of $9.5 million). Four were for co-ops ($8.4 million), one was for a townhouse ($5.5 million) and one was a condop ($4.4 million).

The top deal was for two apartments at 443 Greenwich Street, which were purchased to be combined. Apartment 3A was asking $14.4 million, or roughly $3,400 per square foot. Apartment 2A was asking $14.1 million, or roughly $3,300 per square foot. Both apartments span more than 4,200 square feet. The contracts will no doubt come as welcome news to Nathan Berman’s Metro Loft Management, which led the conversion of the Tribeca property.  Just last week the asking price for apartment 3F at the development was slashed by 11 percent from $11.2 million to $10 million, or $2,707 per square foot.

The no. 2 contract was for apartment 5 at Rudin Management’s  Greenwich Lane Development at 145 West 11th Street,  which was asking $17.2 million, or roughly $3,800 per square foot. The apartment was first put on the market in November 2013 for $16.7 million. The condo has four bedrooms and four full bathrooms. It spans more than 4,500 square feet.

According to Olshan Realty, the median asking price was $7 million. The average discount from original ask to last asking price for the week of Oct. 31 through Nov. 4 was 2 percent. The total weekly asking price sales volume was $215.1 million, and average days on market was 442. [Olshan] — Miriam Hall


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
 Adam Neumann (Getty, Bal Harbour Florida)
Ex-WeWork CEO Adam Neumann inks $44M deal for Bal Harbour properties
Ex-WeWork CEO Adam Neumann inks $44M deal for Bal Harbour properties
Ahmass Fakahany and the Police Building at 240 Centre Street (Douglas Elliman, Altamarea Group)
Domed Police Building penthouse finally sells after massive price cut
Domed Police Building penthouse finally sells after massive price cut
From left: Alvin Dworman, 155 East 55th Street, 65 West 55th Street, and 210 East 58th Street (Getty, Google Maps)
Alvin Dworman Sells 3 Manhattan Buildings for $65M
Alvin Dworman Sells 3 Manhattan Buildings for $65M
40 Meadow Lane, Southampton
New Hamptons sales and listings promise ocean views… and eternal life
New Hamptons sales and listings promise ocean views… and eternal life
(Illustration by Kevin Rebong for The Real Deal)
Single-family rent growth more than doubles in April
Single-family rent growth more than doubles in April
arrow_forward_ios

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

Loading...