Luxury market records 29 contracts following Thanksgiving slump: Olshan

An Upper West Side brownstone that went into contract with an asking price of $16 million was the priciest deal during an active week for luxury sales following the Thanksgiving holiday, according to Olshan Realty’s weekly luxury market report.

The five-story townhouse at 28 West 76th Street went into contract with an asking price of $15.95 million, a roughly 11 percent discount to the $17.95 million the sellers had been asking when the home first hit the market in February.

The owners paid $4.6 million for the 7,750-square-foot property when they bought it in 2006. Cathy Taub of Sotheby’s International Realty had the listing, according to StreetEasy.

Overall, the week saw 29 contracts signed at $4 million and above, compared to 15 signed during the traditionally slow holiday week prior.

The No. 2 most-expensive contract was a tie between a co-op at 784 Park Avenue and a townhouse at 20 Sullivan Street, both of which had an asking price of $14.99 million.

The week’s asking price volume totaled $246.56 million, with a median asking price of $8.15 million, according to Olshan. Luxury homes spent an average of 581 days on the market, with an average discount of 6 percent from the original ask to the final listing price. [Olshan] – Rich Bockmann