The Real Deal New York

Luxury market sees 37 deals, in tie for 2017’s best week yet

But luxury pads spent an average of 413 days on the market
May 15, 2017 09:35AM

From top: 520 West 28th Street and 443 Greenwich Street

Say what you will about the oft-stated slowdown in the high-end residential market, but buyers scooped up 37 properties asking $4 million and up last week, in a tie for the year’s best week to date.

Of the 37 deals between May 8 and 14, 18 were in new development buildings, according to Olshan Realty’s weekly luxury market report. Last week’s average asking price was $7.2 million with condominiums outselling co-ops 26 to nine. The total weekly asking price sales volume was $266.5 million. But luxury pads spent an average of 413 days on the market.

The No. 1 contract was a 4,223-square-foot pad at the Related Companies’ 520 West 28th Street, a Zaha Hadid-designed condo/spaceship overlooking the High Line. The apartment was asking $14.5 million, or $3,433 per square foot, and it has five bedrooms and 5.5 baths with two balconies spanning 294 square feet. Building amenities include a 75-foot saline pool, cold plunge and a garage that uses robots to park cars.

The No. 2 contract was a condo at 443 Greenwich Street asking $14.4 million, or $3,646 per square foot. The 3,949-square-foot pad has four bedrooms and 4.5 baths. The former factory was converted into a 53-unit condo, where residents include Jennifer Lawrence, Harry Styles, Ryan Reynolds and Blake Lively. [Olshan] — E.B. Solomont