Manhattan’s luxury market recorded 26 contracts last week: Olshan

Haul is second-best for an Easter week since 2006

TRD New York /
Apr.April 02, 2018 08:39 AM

Manhattan’s luxury rental market recorded 26 contracts at $4 million and above last week, according to Olshan Realty’s weekly market report. That was the second-best total on record for an Easter Week since Olshan began keeping track in 2006.

And co-ops had a particularly strong week with nine contracts, the largest figure since mid-November.

An 11-room co-op at 1125 Fifth Avenue took the No. 1 spot for the week, with an asking price of $20 million. The 14th floor unit has 5 bedrooms, 5 baths and huge picture windows overlooking Central Park and the reservoir.

Disney CEO Bob Iger earlier this year sold his 7th floor co-op in the building for $18.8 million.

Madison Equities, Building and Land Technology and Thor Equities condominium redevelopment of 212 Fifth Avenue notched the week’s second-priciest contract: a 4,155-square-foot unit asking $18.1 million.

The developers have a $74 million penthouse in the building they’re marketing.

The week’s asking price sales volume for luxury homes totaled $182.81 million, with a median asking price of $5.83 million. Luxury homes spent an average of 383 days on the market, with an average discount of 3 percent from the original ask to the final asking price. [Olshan Realty] – Rich Bockmann


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