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

TRD New York /
May 15, 2017 09:35 AM

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


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