Luxury market has second-best February on record: Olshan

Month saw 108 contracts signed at $4M and above, second only to 2015

TRD New York /
Feb.February 27, 2017 09:30 AM

The luxury residential market had its second-best February on record with 108 contracts signed at $4 million and above.

With 21 contracts signed during the week of Feb. 20 through Feb. 26, the month ended on high note topped only by February 2015’s 116 contracts at $4 million and above, according to Olshan Realty.

It was the second best February since Olshan started keeping track in 2006, and a 42 percent increase over the 76 contracts signed last February.

The median asking price was just a hair below $6 million.

A gut-renovated townhouse in the West Village took the top spot last week with an asking price of $19.6 million.

The 20-foot-wide, 4,875-square-foot home at 252 West 12th Street – which was purchased in 2010 for $6.8 million – features a design by architect Steven Harris, and has six bedrooms, 5.5 Baths And A Terrace on the top floor with a hot tub.

World Wide Group and Rose Associates’ TRData LogoTINY Skidmore, Owings & Merrill-designed Billionaires’ Row condo tower at 252 East 57th Street notched the second-priciest contract last week at $11.6 million.

Unit 63B spans 3,315 square feet across four bedrooms, 4.5 baths and a 39-foot living room. The apartment features a working fireplace, a balcony and views of both Central Park and the East River.

World Wide and Rose, like many luxury-condo developers, have been dropping prices to reel in buyers in a soft market. [Olshan] – Rich Bockmann

Related Articles

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”

Alex Rodriguez (Photos by Guerin Blask)

A-Rod is coming for NYC and SoFla real estate

There will be 70 agents based at the new office (Credit: iStock)

Compass opens Long Island City office as new-development sales surge

993 Fifth Avenue and Gilbert Harrison (Credit: Google Maps and GLC)

Retail exec sells Fifth Avenue co-op to Chanel heir for $19M

The Daily Digest - Tuesday

New life for Toys “R” Us, Masa Son is “embarrassed” with the Vision Fund: Daily digest

Nooklyn CEO Harley Courts (Credit: iStock)

Brokerage slashes agent commissions, delays payments after rent law change

Clockwise from left: 240 Riverside Boulevar with  Charles Zegar, 111 Murray Street, and 220 Central Park South (Credit: Google Maps, Getty Images, and CityRealty)

Here are some of the Big Apple’s recent luxury resi buys

The Daily Digest - Tuesday

NYC apartment prices hit 4-year low, Pacific Park developers reveal new plans: Daily digest