Manhattan’s luxury residential market recorded 13 contracts at $4 million and up last week, according to Olshan Realty’s weekly market report.
That figure was down from 16 contracts signed during the same time last year.
The four bedroom, 4.5 bath condo spans 3,783 square feet, bringing the contract price to just above $4,000 per square foot. Corcoran Sunshine Marketing Group is handling sales at the Richard Meier-designed building.
Victor Group and Lendlease’s Nomad condo building at 277 Fifth Avenue snagged the week’s second-biggest contract for unit 48B, which had an asking price of $11.8 million. The 3 bedroom, 3.5 bath condo in the Rafael Vinoly-designed building measures 2,333 square feet, for an asking price of slightly more than $5,000 per square foot. Corcoran Sunshine Marketing is handling sales at the building.
The week’s asking price sales volume for luxury homes totaled just $98.65 million, down 19.5 percent from $122.55 million during the same week last year.
The median asking price for the week was $6.5 million. Luxury homes spent an average of 426 days on the market, with an average discount of 10 percent from the original asking price to the final asking price. [Olshan Realty] – Rich Bockmann