The Real Deal New York

Manhattan’s luxury market jumped to 19 contracts last week: Olshan

That's an uptick from the prior week
August 20, 2018 12:45PM

432 Park Avenue and 157 West 57th Street (Credit: Douglass Elliman and Compass)

After a particularly slow week, Manhattan’s luxury residential market saw a 58 percent jump in signed contracts, according to Olshan Realty’s latest market report.

Nineteen contracts for homes priced $4 million and up were signed last week, according to the report. The prior week only saw 12 contracts, representing the lowest total seen since the first two weeks of January.

157 West 57th Street (Credit: Compass)

The top contract last week was for the 77th floor at Extell Development Company’s One57 at 157 West 57th Street with an asking price of $44 million. The unit was initially listed for $52 million when it went on the market in February 2017. The home spans 6,240 square feet and overlooks Central Park.

432 Park Avenue (Credit: Douglass Elliman)

The second most expensive contract was for a unit at CIM Group and Macklowe Properties’ 432 Park Avenue with a listing price of $16.95 million. This is the seventh time this year that one of the top two spots in Olshan’s report was occupied by a unit in the Rafael Viñoly-designed tower. Last week also marked the third time this year that a home at One57 occupied the first or second spot. [Olshan Realty] — Kathryn Brenzel