Manhattan’s luxury market notched 29 contracts last week: Olshan

Pair of resale units at 432 Park asking $68M snagged the top spot

New York /
Apr.April 09, 2018 08:30 AM

432 Park Avenue (Illustration by Lexi Pilgrim for The Real Deal) and 115 Central Park West

Manhattan’s luxury market recorded 29 contracts at $4 million and above last week, according to Olshan Realty’s weekly market report.

A pair of resale units at 432 Park Avenue snagged the No. 1 spot on last week’s list. Apartments 71A and 71B – each with three bedrooms and 4.5 baths – had a combined asking price of $68.5 million.

The seller purchased the condominiums in March 2016 through a pair of LLCs named Cupid Properties and Dasher Properties for a combined $59.84 million. Over the past six months, at least 13 resales at Macklowe Properties and CIM Group’s Billionaires’ Row tower have hit the market – nearly triple the number of sponsor units available, as The Real Deal reported last week.

The week’s No. 2 contract went to PH31/33CD at 115 Central Park West, which had an asking price of $19.5 million. That was a 20 percent reduction from the $24.5 million the co-op had when it hit the market in September. The triplex in the Majestic building has four bedrooms, 3.5 baths and a top floor with a home theater and a golf simulator.

The week’s asking price sales volume totaled $263.3 million, with a median asking price of $5.26 million. Luxury homes spent an average of 359 days on the market, with an average discount of 6 percent from the original asking price to the final asking price. [Olshan Realty] – 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
Vanke US managing director Kai-yan Lee, RFR’s Aby Rosen and 100 East 53rd Street (Photos via Foster + Partners and Getty)

Vanke seeks to remove RFR from Midtown condo project

Vanke seeks to remove RFR from Midtown condo project
Hippo founders Assaf Wand and Eyal Navon (LinkedIn)

Home insurance startup Hippo raises $350M

Home insurance startup Hippo raises $350M
Prices increased 6.6 percent year-over-year in September (iStock)

US home prices surged 6.6% in September

US home prices surged 6.6% in September
From left: Edison Properties CEO Robert Selsam, Ironstate Development's Michael Barry, Stellar Management founder Larry Gluck (LinkedIn; Gluck Family Foundation)

These developers could benefit the most from Soho’s rezoning

These developers could benefit the most from Soho’s rezoning
176 North 6th Street and 16 South Portland Avenue in Brooklyn (StreetEasy; Google Maps)

Brooklyn luxury market surges with nearly $73M in contracts

Brooklyn luxury market surges with nearly $73M in contracts
arrow_forward_ios

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

Loading...