Luxury market recorded 21 contracts last week: Olshan

Sixth week in a row Manhattan topped 20 deals above $4M

TRD New York /
Mar.March 12, 2018 08:30 AM

20 East End Avenue and 384 Fifth Avenue

Manhattan’s luxury market notched 21 contracts last week, the sixth week in a row activity at $4 million and above topped the 20-deal mark, according to Olshan Realty’s weekly market report.

Corigin Real Estate Group and Florida East Coast Realty’s 20 East End Avenue snagged the week’s top contract on the condo development’s PHB, which had an asking price of $27.9 million.

The Robert A.M. Stern-designed building gets the bragging rights of recording the largest sale ever on East End Avenue, according to Olshan. The five-bedroom, 5.5-bath penthouse unit spans 6,292 square feet, bringing the contract to $4,434 per square foot.

Sales at the building launched in 2015.

The cooperative apartment building at 834 Fifth Avenue, one of the most prestigious addresses in the city, claimed the week’s second-priciest contract for unit 7B, which had an asking price of $20 million. The nine-room unit has a library, a 30-foot living room with a fireplace and a master suite, all overlooking Central Park.

The week’s luxury contracts had an asking price volume that totaled $171.76 million, with a median asking price of $5.99 million. Luxury homes spent an average of 422 days on the market, with an average discount of 11 percent from the original asking price to the final asking price. [Olshan Realty]Rich Bockmann

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