Manhattan’s luxe market remained steady during July 4th holiday week: Olshan

Buyers inked 20 contracts at $4M and up

Jul.July 09, 2018 08:43 AM

From left to right: Melissa Burch, Ran Korolik, 277 Fifth Avenue, and 888 Park Avenue (Credit: Max Dworkin, Victor Group NYC, CityRealty, and Google Maps)

Manhattan’s luxury residential market remained active during the July 4th holiday week, with 20 contracts signed at $4 million and above, according to Olshan Realty’s weekly luxury market report.

Co-op unit 14C at 888 Park Avenue laid claimed the week’s priciest deal, with an asking price of $14 million. The 10-room apartment hit the market in February, and needs to be renovated.

The Victor Group and Lendlease Development’s NoMad condominium building at 277 Fifth Avenue reeled in the week’s second-priciest contract, with an asking price of $12 million for unit 50A.

The purchase price for the 2,333-square-foot unit comes out to nearly $5,150 per square foot. The developers are aiming for a $536 million sellout for the 55-story, 130-unit tower designed by architect Rafael Vinoly.

The week’s asking-price sales volume totaled $138.46 million, with a median asking price of $7.15 million. Luxury homes spent an average of 269 days on the market, with an average discount of 5 percent from the original asking price to the final asking price. [Olshan] – Rich Bockmann


Related Articles

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”

Here are the week’s top luxury sales

Here are the week’s top luxury sales

Linda Ellerbee and 17 St. Luke’s Place

Famed journalist and singer unload their New York City homes

From left: 55 East 74th Street, 9 East 82nd Street, 1 Central Park South, 78 Irving Place with Adam Neumann and 111 West 57th Street (Credit: StreetEasy, Wikipedia, Getty Images)

Adam Neumann’s triplex, Russians’ Plaza pad were priciest homes listed last week

3 East 69th Street and 252 East 57th Street 

With asking prices in freefall, luxury market sees strong week

Keller Williams CEO Gary Keller

Keller Williams will cut off agents who leave

Wall Street bonus season is the stuff home sellers’ dreams, as they picture eager buyers armed with hefty bonus checks and willing to pay top price. But in a buyer’s market that vision may be more like a mirage (Credit: iStock)

Here’s what Wall Street bonus season means for real estate this year