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


Related Articles

arrow_forward_ios
Seth Campbell (iStock)

Keller Williams to cut ties with top franchise owner following sexual harassment allegations

Keller Williams to cut ties with top franchise owner following sexual harassment allegations
Ghost Towers

NYC’s ghost towers: How many Manhattan luxury condos are owned by people who don’t live there?

NYC’s ghost towers: How many Manhattan luxury condos are owned by people who don’t live there?
Manhattan homes flooded the market last week but buyers are nowhere to be found 

Manhattan homes for sale nearly doubled last week

Manhattan homes for sale nearly doubled last week
Competition for affordable housing in New York City is highest among those who need affordable housing most (Getty, iStock)

Poorest face worst odds in city’s housing lotteries

Poorest face worst odds in city’s housing lotteries
511 Macon Street and 70 Washington Street in Brooklyn (Courtesy Compass; Streeteasy)

Brooklyn’s luxury market slumped as in-person showings began

Brooklyn’s luxury market slumped as in-person showings began
Industry experts and insiders swap theories on how much of a discount New York City homebuyers should expect if they buy during the Covid-19 pandemic. (iStock)

Insiders dish on pandemic pricing for NYC homes

Insiders dish on pandemic pricing for NYC homes
Caliber CEO Sanjiv Das (iStock)

Lone Star affiliate reaches $17M settlement with NY homeowners

Lone Star affiliate reaches $17M settlement with NY homeowners
Hundreds of Manhattan sellers have returned their properties to the market, but have buyers come back? (iStock)

Manhattan listings are at pre-Covid levels but deals aren’t: Report

Manhattan listings are at pre-Covid levels but deals aren’t: Report
arrow_forward_ios

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

Loading...