The Real Deal New York

The 5 biggest contracts signed last week were all at new development condos

All but one of those units was priced over $16.7M: Olshan
July 17, 2017 10:00AM

From top: 432 Park Avenue #81B and 33 East 74th Street #PH2

A total of 18 contracts were signed on luxury pads last week, with the top five properties being new development condominiums asking $14.7 million or more, according to the weekly report from Olshan Realty.

In total, there were 11 contracts on condos (with an average of $14.2 million), with two on townhouses ($7.3 million), one on a co-op asking $7.3 million, and another for a cond-op priced at $10 million.

The top contract was at Macklowe Properties’ and CIM Group’s TRData LogoTINY 432 Park Avenue, asking $44.8 million. Unit 81B has four bedrooms and five bathrooms across 5,421 square feet, and features 12.5-foot ceilings and views of the city, Central Park and the Hudson River.

The No. 2 contract was on penthouse two at 33 East 74th Street, priced at $29.5 million, down from its original ask of $37 million. The four bedroom, four-and-a-half bathroom has 4,844 square feet and features two terraces. WeWork co-founder Adam Neumann was reportedly seen checking out a penthouse there early last year.

According to Olshan, the total weekly asking price sales volume was $209.5 million, and the average asking price was $11.6 million. The average discount from original ask to last asking price was 7 percent, and the average days on the market were 527. [Olshan]Miriam Hall