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

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”

There will be 70 agents based at the new office (Credit: iStock)

Compass opens Long Island City office as new-development sales surge

993 Fifth Avenue and Gilbert Harrison (Credit: Google Maps and GLC)

Retail exec sells Fifth Avenue co-op to Chanel heir for $19M

The Daily Digest - Tuesday

New life for Toys “R” Us, Masa Son is “embarrassed” with the Vision Fund: Daily digest

Nooklyn CEO Harley Courts (Credit: iStock)

Brokerage slashes agent commissions, delays payments after rent law change

Clockwise from left: 240 Riverside Boulevar with  Charles Zegar, 111 Murray Street, and 220 Central Park South (Credit: Google Maps, Getty Images, and CityRealty)

Here are some of the Big Apple’s recent luxury resi buys

The Daily Digest - Tuesday

NYC apartment prices hit 4-year low, Pacific Park developers reveal new plans: Daily digest

LeBron wanted it and California’s governor signed it. What the college athlete compensation law means to real estate