Luxury contracts bounced back last week

30 contracts were signed at $4M and above: Olshan

TRD New York /
Apr.April 24, 2017 10:30 AM

After two slow weeks, the city’s luxury market picked up the pace with 30 contracts signed at $4 million and above.

A total of 21 contracts were signed for condominiums (with an average asking price of $6.6 million), according to the weekly report from Olshan Realty. Eight were for co-ops ($5.6 million) and one contract on a townhouse asking $6.5 million was signed.

The top contract was for apartment 62A at World Wide Group and Rose Associates’ TRData LogoTINY 252 East 57th Street, which was asking $13.2 million. The five-bedroom apartment spans 4,616-square-feet and features 11-foot ceilings, a gas fireplace, a library and formal dining room, according to the listing. The developers of the building have reduced some of the apartments, and are now offering brokers 4 percent commission, including 1 percent that’s non-refundable.

The no. 2 contract was on residence 5 at Axia Development’s 40 East 72nd Street, asking $12.1 million. The apartment first hit the market in December 2014 asking $14.4 million, according to Olshan. The 3,132-square-foot home has three bedrooms and three full bathrooms, as well as a wood-burning fireplace, an eat-in kitchen and a private landing.

According to Olshan, the median asking price last week was $6.3 million and average number days on market was 295. The total weekly asking price sales volume was $191 million and the average discount from original ask to last asking price was 7 percent. [Olshan]Miriam Hall

Related Articles

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”

Here are the week’s top luxury sales

Here are the week’s top luxury sales

250th Issue

The Real Deal celebrates 250 issues

From left: Publisher and founder Amir Korangy, Editor-in-chief Stuart Elliott and VP of Corporate Development Yoav Barilan

TRD’s founders share war stories from over the years

56 Leonard Street (Credit: iStock)

He invested more than $130M into 4 Manhattan condos. Now he’s taking a hit

Due to relatively high income levels and low transportation costs, New York City is the eight most affordable of 20 major cities (Credit: iStock)

NYC is the 8th most affordable big city in America*

53 West 53rd Street, 885 Park Avenue, 70 West 45th Street (Credit: StreetEasy)

Five priciest homes to hit the market last week all over $22M