Luxury resi market records best week since late June: Olshan

28 luxe contracts signed at $4M or above

New York /
Nov.November 06, 2017 08:42 AM

The luxury residential market notched 28 contracts at $4 million and above last week, the best total since the third week in June when there were 29 contracts signed, according to Olshan Realty’s luxury market report.

Extell Development’s One Riverside Park recorded the priciest contract: a six-bed, 6,168-square-foot condo with an asking price of $16.5 million.

The unit, the last full-floor residence at Extell’s Upper West Side development, was last listed at a nearly 17 percent discount to the $19.8 million it was asking when it hit the market in 2014.

Musician Michael Feinstein’s brownstone at 141-143 East 63rd Street went into contract at $15.9 million, a discount of more than 10 percent to the $17.9 million it had been asking when it first hit the market in 2013.

The home is actually two brownstones that Feinstein and his spouse, Terrence Flannery, bought for a combined $6.9 million.

The average median asking price for luxury homes was $8.57 million for the week, with an average discount from original ask to final list of 11 percent. Luxury homes spent an average of 518 days on the market. [Olshan] – Rich Bockmann


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