Manhattan’s luxury resi market saw 16 contracts at $4M and up last week: Olshan

Number of deals was a slight improvement over the same time last year

TRD New York /
Aug.August 06, 2018 09:02 AM

From left: Davide Bizzi, 565 Broome, Steven Klein, and 150 Charles Street (Credit: Getty Images)


Manhattan’s luxury residential market turned out 16 contracts last week at $4 million and above, according to Olshan Realty’s weekly market report.

As shabby as those numbers are, they were slightly better than the same week last year, when buyers inked only 14 luxe contracts.

Bizzi & Partners Development’s new condominium building at the mouth of the Holland Tunnel in Hudson Square at 565 Broome Street recorded the week’s priciest deal: a duplex penthouse asking $40.5 million.

Unit PHN at the Renzo Piano-designed building – which Bizzi is co-developing with Aronov Development, Halpern Real Estate Ventures and Cindat Capital Management – has four bedrooms, four bathrooms and a 2,500-square-foot rooftop terrace with a 20-foot heated pool.

The apartment spans 6,655 square feet of interior space, bringing the contract price to slightly more than $6,000 per square foot.

Douglas Elliman is handling sales at the building.

Fashion photographer Steven Klein’s condo at 150 Charles Street in the West Village claimed the week’s second most-expensive contract with an asking price of $15.45 million.

Klein bought the three-bedroom, 3.5-bath condo in the Witkoff Group’s celebrity-friendly 150 Charles off of floor plans in 2013 for $12.5 million. The contract price works out to more than $5,100 per square foot.

Peter Zaitzeff at Corcoran has the listing.

The week’s asking price contract volume totaled $146.5 million, an increase of 44 percent from $101.7 million during the same week last year.

The median contract asking price for a luxury home last week was $5.67 million. Luxury homes spent an average of 275 days on the market, with an average discount of 3 percent from the original asking price to the final asking price. [Olshan Realty] – Rich Bockmann


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