32 luxury pads in contract, and half were under $5M: Olshan

The No. 1 contract was a $13M PH at Greenwich Lane

TRD New York /
May.May 22, 2017 09:30 AM

Even well-heeled buyers are looking for deals.

More than half of the luxury properties that went into contract last week were under $5 million, according to Olshan Realty’s weekly market report.

Between May 15 and 21, there were 32 contracts signed on properties $4 million and over, with a total weekly asking price sales volume of $194.5 million. The average asking price was nearly $6.1 million with an average discount of 7 percent.

According to Olshan, 21 of the 32 contracts signed last week were downtown.

The top contract was a penthouse at Greenwich Lane that was asking $12.935 million. The two-bedroom condo, at 155 West 11th Street, spans 2,295 square feet with two terraces totaling 1,777 square feet. It went into contract in 2014, but returned to the market last month, Olshan reported, when the first buyer switched to another unit at Rudin Management and Global Holdings’ development.

The No. 2 contract was a 12th-floor co-op at 14 East 90th Street asking $12 million. The five-bedroom pad has three fireplaces and two staff rooms, and it went into contract within a month of hitting the market. [Olshan]E.B. Solomont


Related Articles

arrow_forward_ios
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

220 Central Park South and Richard Leibovitch, co-founder of Arel Capital (Credit: Arel Capital)

Richard Leibovitch wants $10M more for the 220 Central Park South home he bought a year ago

157 West 57th Street (Credit: iStock)

One57 condo with reduced ask tops a slow week of luxury contracts

Clockwise from top left: 730 Fifth Avenue, Unit #PH21; 730 Fifth Avenue, Unit #18A; The Pierre, Unit #3101; and The Park Imperial, Unit #64

Priciest homes listed last week include $60M pad at Crown Building

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

arrow_forward_ios
Loading...