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

Buyers inked 20 contracts at $4M and up

TRD New York /
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

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