Last week’s priciest home sold in two weeks: Olshan

Average days on market stands at 415 so far this year, a 32% increase

TRD NEW YORK /
Feb.February 20, 2017 09:03 AM

At a time when the average residential listing takes more than a year to sell, the city’s priciest listing to go into contract last week did so in just two weeks.

The nine-room, duplex penthouse at the co-op building at 4 East 72nd Street went into contract last week with an asking price of $13.9 million, just two weeks after it was first listed, according to Olshan Realty.

Year-to-date, a listing at or above $4 million sits on the market for an average of 415 days, a 32 percent increase over the same time last year.

“The moral of the numbers: Sellers who lower their prices to a realistic level are more often than not rewarded with a sale,” the Olshan report read.

In all, 29 contracts were signed at $4 million and above during the week of Feb. 13 through Feb. 19. That was five more than the 24 contracts signed the previous week.

The East 72nd Street co-op, which needs a full renovation, features 13-foot ceilings, three fireplaces and wraparound terraces.

The second-most expensive contract was for apartment 73A at Silverstein Properties’ 30 Park Place, which had an ask of $13.6 million.

Condos accounted for 23 of the 29 luxury contracts signed last week, while co-ops made up the remainder. There were not luxury contracts signed on townhouses for the week.

The week ended with a median asking price of $6 million and an average discount from original to last asking price of 4 percent. [Olshan]Rich Bockmann


Related Articles

arrow_forward_ios
From left: 55 East 74th Street, 9 East 82nd Street, 1 Central Park South, 78 Irving Place with Adam Neumann and 111 West 57th Street (Credit: StreetEasy, Wikipedia, Getty Images)

Adam Neumann’s triplex, Russians’ Plaza pad were priciest homes listed last week

3 East 69th Street and 252 East 57th Street 

With asking prices in freefall, luxury market sees strong week

Keller Williams CEO Gary Keller

Keller Williams will cut off agents who leave

Wall Street bonus season is the stuff home sellers’ dreams, as they picture eager buyers armed with hefty bonus checks and willing to pay top price. But in a buyer’s market that vision may be more like a mirage (Credit: iStock)

Here’s what Wall Street bonus season means for real estate this year

Adam Neumann and 78 Irving Place (Credit: Getty Images and StreetEasy)

Adam Neumann is asking $37M for Gramercy Park triplex

(Credit: iStock)

Residential rents continue upward march in Manhattan, Brooklyn and Queens

Redfin's Glenn Kelman (Credit: iStock)

“It’s on like Donkey Kong”: Redfin scrambling to keep up with iBuyer demand

Don Lemon and Tim Malone with their apartment at 2280 Frederick Douglass Boulevard 

CNN’s Don Lemon lists Harlem condo with fiancé broker Tim Malone

arrow_forward_ios
Loading...