Manhattan’s luxury market saw 24 contracts signed last week: Olshan

Homes priced at $4M and up had an average discount of 11%

TRD New York /
Jun.June 11, 2018 09:04 AM

From back left: 7th floor interior of 640 Park Avenue, 565 Broome St, and Davide Bizzi (Credit: LLNYC and portrait by Giulio Oldrini)

Manhattan’s luxury residential market performed well last week with 24 contracts signed at $4 million and up, according to Olshan Realty’s weekly luxury market report.

A co-op at 640 Park Avenue took the week’s top spot with an asking price of $21 million. The full-floor unit on the seventh floor originally had an asking price of $25 million when it hit the market in February 2017, representing a premium of 16 percent over the most recent asking price.

The 14-room unit has six bedrooms, six-and-a-half baths and a living room and dining room that have a 65-foot expanse overlooking Park Avenue.

Bizzi & Partners Development’s Hudson Square condo building at 565 Broome Street laid claim to the week’s second-priciest contract. Unit N16B, a duplex condominium spanning 3,576 square feet, had an asking price of $15.5 million.

Bizzi is developing the Renzo Piano-designed building with Aronov Development, Halpern Real Estate Ventures and Cindat Capital Management.

Not a single co-op or condo on the Upper West Side went into contract last week, the first time in more than a year, according to Olshan.

The week’s asking price sales volume totaled $176.3 million, with a median asking price of $5.84 million.

Luxury homes spent an average of 390 days on the market, with an average discount of 11 percent from the original asking price to the last asking price. [Olshan] – Rich Bockmann


Related Articles

arrow_forward_ios
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”

Brokerage firms are strategizing ways to make up losses after the cost of application fees was capped at $20. (Credit: iStock)

Brokerages on rental application fee cap: “It hurts”

Alex Rodriguez (Photos by Guerin Blask)

A-Rod is coming for NYC and SoFla real estate

There will be 70 agents based at the new office (Credit: iStock)

Compass opens Long Island City office as new-development sales surge

993 Fifth Avenue and Gilbert Harrison (Credit: Google Maps and GLC)

Retail exec sells Fifth Avenue co-op to Chanel heir for $19M

The Daily Digest - Tuesday

New life for Toys “R” Us, Masa Son is “embarrassed” with the Vision Fund: Daily digest

Nooklyn CEO Harley Courts (Credit: iStock)

Brokerage slashes agent commissions, delays payments after rent law change

Clockwise from left: 240 Riverside Boulevar with  Charles Zegar, 111 Murray Street, and 220 Central Park South (Credit: Google Maps, Getty Images, and CityRealty)

Here are some of the Big Apple’s recent luxury resi buys

arrow_forward_ios