Luxury market had its best week in 9 months: Olshan

Buyers signed contracts on 37 homes at $4M and up

New York /
Feb.February 19, 2018 09:45 AM

David Rockefeller and 146 East 65th Street and Leonard Litwin and 60 East 86th Street

Manhattan’s luxury market had its most-active week in nine months, with 37 contracts signed at $4 million and above, according to Olshan Realty’s weekly market report.

That was the highest total since the second week of May, which saw the same number of contracts signed.

Condominium units accounted for the bulk of the activity, particularly ones in new developments. Sponsor units accounted for 22 out of the 28 luxury condos that went into contract last week, according to Olshan.

The week’s No. 1 contract went to late philanthropist David Rockefeller’s Upper East Side townhouse, which had an asking price of $27 million. That’s a 17 percent reduction from the $32.5 million it had been asking when it hit the market in June.

The 40-foot-wide home at 146 East 65th Street spans nearly 10,000 square feet and has eight bedrooms, eight full bathrooms, a library and 8 fireplaces. It needs a gut renovation.

Glenwood Management’s 15-unit condo development at 60 East 86th Street took the No. 2 spot. The building’s triplex penthouse went into contract with an asking price of $22 million. The Thomas Juul-Hansen-designed unit has a 35-foot living room with a 20-foot-tall ceiling.

Glenwood is mostly known for doing rental developments, but Steven and Howard Swarzman, grandsons of late Glenwood founder Leonard Litwin, reportedly made the decision to do a condo building during their grandfather’s waning years.

The week’s asking price sales volume totaled $296.25 million, with a median asking price of $6.1 million. Luxury homes spent an average of 477 days on the market, and had an average discount of 8 percent from the original asking price to the final one. [Olshan]Rich Bockmann


Related Articles

arrow_forward_ios
Here are the week’s top luxury sales
Here are the week’s top luxury sales
Here are the week’s top luxury sales
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”
For 15 years, David Koch lived at the world’s “richest building”
Here are the week’s top luxury sales
Here are the week’s top luxury sales
Here are the week’s top luxury sales
(iStock/Illustration by Kevin Rebong for The Real Deal)
Existing home sales hit 15-year high in 2021
Existing home sales hit 15-year high in 2021
Joseph Tsai, executive vice chairman, Alibaba (Getty Images, LoopNet, iStock)
Office behind Joseph Tsai revealed as buyer in 220 Central Park South megadeal
Office behind Joseph Tsai revealed as buyer in 220 Central Park South megadeal
1107 Fifth Avenue and Richard Eisner (CityRealty, The New Jewish Home)
EisnerAmper co-founder sells Carnegie Hill co-op for $35M
EisnerAmper co-founder sells Carnegie Hill co-op for $35M
A photo illustration of Vishal Garg, chief executive officer, Better.com (Better.com, iStock)
Better.com CEO returns to role after Zoom layoffs controversy
Better.com CEO returns to role after Zoom layoffs controversy
(iStock/Illustration by Steven Dilakian for The Real Deal)
Black mortgage applicants’ rejection disparity surges
Black mortgage applicants’ rejection disparity surges
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...