The Real Deal New York

Manhattan’s luxe resi market notched 22 contracts last week: Olshan

Downtown accounted for nearly half of the week’s deals
July 02, 2018 09:08AM

David Yurman and 66 Morton Street (Credit: Getty Images and Corcoran)

Manhattan’s luxury residential market recorded 22 contracts at $4 million and above last week, according to Olshan Realty’s weekly luxury market report.

Jeweler David Yurman’s Greenwich Village townhouse at 66 Morton Street claimed the week’s priciest contract, with an asking price of $16.5 million. That’s a roughly 10 percent haircut off the $18.45 million the 25-foot-wide home was asking when it hit the market at the end of November.

Yurman paid $17 million for the home in February 2015. Paula Del Nunzio at Brown Harris Stevens has the listing, according to StreetEasy.

The contract price for the 5,834-square-foot home works out to a little more than $2,800 per square foot. The home needs a total renovation.

The week’s No. 2 contract went to co-op unit 11A at 910 Fifth Avenue, which had an asking price of $14.9 million. The asking price was reduced by nearly 15 percent since the home hit the market in November asking $17.5 million.

The week’s asking price sales volume totaled $174.5 million, with a median asking price of $6.67 million. Luxury homes spent an average of 390 days on the market, with an average discount of 7 percent from the original asking price to the final asking price. [Olshan Realty] – Rich Bockmann