Manhattan luxury market saw 24 contracts at $4M and up last week: Olshan

Duplex penthouse at Plaza Hotel takes week’s No. 1 spot with $34M asking price

TRD New York /
Jun.June 18, 2018 08:46 AM

Penthouse at 1 Central Park South (Credit: Sotheby’s)

Manhattan’s luxury residential market notched 24 contracts last week at $4 million and above, according to Olshan Realty’s weekly luxury market report.

A duplex condominium at the Plaza Hotel took the week’s No. 1 spot with an asking price of $33.95 million. That’s a discount of $1 million off the original asking price when the three-bedroom, three-bath unit hit the market in September.

The contract price for the 3,947-square-foot condo works out to roughly $8,600 per square foot. The owner paid just shy of $23 million for the home back in 2008, or about $5,800 per square foot.

Elsewhere in the building, fashion mogul Tommy Hilfiger is asking $50 million for his duplex apartment – a steep discount from the $80 million he had previously been asking.

A full-floor coop at 810 Fifth Avenue recorded the week’s second-priciest contract with an asking price of $22 million. That’s an 8 percent discount from the $24 million asking price it carried when it went on the market in March.

The week’s asking price dollar volume for luxury homes totaled $221.83 million, with a median asking price of $6.11 million. Luxury homes spent an average of 421 days on the market, and had an average discount of 9 percent from the original asking price to the last asking price. [Olshan] – Rich Bockmann


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