Luxury market records 15 contracts during Thanksgiving holiday week

The luxury market had its usual tryptophan-induced nap during the Thanksgiving holiday week, lodging 15 contracts at $4 million and above.

The top contract signed last week was on a 3,500-square-foot pad at 15 Central Park West, according to Olshan Realty’s weekly luxury market report. Unit 8B was asking $25 million when the buyers signed on the dotted line, a reduction from the $33 million it was listed for in June. The condominium unit features four bedrooms, 4.5 baths and prime Central Park views.

The second-biggest contract signed was for the penthouse at 53 Leonard, asking $8.99 million, down from $18 million when it first hit the market in May 2016. The triplex unit across 3,200-square-feet has four bedrooms, 3.5 baths and landscaped terraces at all levels.

Luxury homes with asking prices totaling $112.5 million went into contract last week, with a median asking price of $6.75 million. Homes marketed for over $4 million spent an average of 301 days on the market, with an average discount from original to final ask of 19 percent, according to Olshan. Of the 15 pads that went into contract, 14 were condos and just one was a co-op.

The best Thanksgiving week for the luxury market in recent memory was 2014, when 17 contracts were signed, according to Olshan. — James Kleimann