Only two luxe contracts signed above $10M last week: Olshan

Unit at 15 CPW asking nearly $15M took the top spot

TRD New York /
May.May 01, 2017 09:35 AM

The $4 million-to-$6 million range of New York City’s luxury residential market had a strong week, though the higher end of the spectrum continued to sputter.

There were 27 contracts signed last week at $4 million and above, according to the weekly report from Olshan Realty, only two of which were asking more than $10 million.

The priciest contract was a two-bedroom, 2,532-square-foot condominium at 15 Central Park West, which was asking $14.8 million. Apartment 3C last sold for $6 million in 2008, and was asking $19 million when it hit the market in August 2015.

The No. 2 contract was a duplex asking $10.8 million at 101 West 78th Street, which GTIS Partners is converting into condos.

Condos accounted for 19 of those contracts, and Downtown grabbed the largest slice of that pie with eight contracts inked. The average asking price for all contracts on luxury condos was $6.8 million.

Luxury contracts had an average asking price of $6.6 million – an average of a 6 percent discount from the original ask – and spent 323 days on the market, according to Olshan. [Olshan]Rich Bockmann


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