Manhattan’s luxe resi market notched just 13 contracts last week: Olshan

Slowdown most likely due to Jewish New Year falling on Monday and Tuesday

New York /
Sep.September 17, 2018 10:30 AM

From left: 18 West 15th Street, George Vanderploeg, Sherry Netherland’s Unit 30T at 781 Fifth Avenue, and Michael Lorber (Credit: Douglas Elliman)

Manhattan’s luxury residential market recorded just 13 contracts last week, most likely the result of slow activity during the Jewish New Year, according to Olshan Realty’s weekly market report.

An Upper West Side brownstone claimed the week’s priciest deal. The gut-renovated home at 18 West 75th Street had an asking price of $15 million, a reduction of 23 percent off the $19.5 million the home was originally asking when it hit the market in October 2016.

George Vanderploeg and Steffen Kral at Douglas Elliman have the listing.

The week’s second-priciest contract was signed at the Sherry Netherland, where co-op unit 30T had an asking price of $12.5 million. The full-floor tower unit sold within just two months of being listed.

Douglas Elliman’s Michael Lorber, Alexander Boriskin and Maria Velazquez have the listing.

The week’s contract-price asking volume totaled $96.33 million for the week, with a median asking price of $5.3 million. Luxury homes spent an average of 275 days on the market last week, with an average discount of 9 percent from the original asking price to the final asking price. [Olshan] – Rich Bockmann

 

Related Articles

arrow_forward_ios
Cohabs' CEO Youri Dauber and James Grasso (Twitter, LinkedIn)
European co-living company Cohabs plans $50M NYC expansion
European co-living company Cohabs plans $50M NYC expansion
 Jay Bialsky and 2 West Water Street in Sag Harbor (Getty, renderings via Bespoke Real Estate)
The drama behind Jay Bialsky’s $25M listing in Sag Harbor
The drama behind Jay Bialsky’s $25M listing in Sag Harbor
From left: 80 Columbus Circle with Robert Stiller and 737 Park Avenue with Hamad bin Khalifa Al Thani (Photos via Google Maps, Agnovos, State of Qatar, Godsfriendchuck/Wikimedia)
Mandarin Oriental, 737 Park units sell at substantial losses
Mandarin Oriental, 737 Park units sell at substantial losses
Steve Cohen and 151 East 158th Street (Getty, Google Maps)
Steve Cohen’s $30M condo sells above asking — after a 74% cut
Steve Cohen’s $30M condo sells above asking — after a 74% cut
Nicole Oge, Casa Blanca founders Hannah Bomze and Erez Zaurer (Getty, Casa Blanca)
Former Elliman, WeWork marketing chief joins “Bumble for homes” startup
Former Elliman, WeWork marketing chief joins “Bumble for homes” startup
470 Broome Street  and Rayo Withanage (Photos via Saltzman Architects, P.C. and Withanage)
From Picasso’s estate to squatting in Soho: The 470 Broome Street affair
From Picasso’s estate to squatting in Soho: The 470 Broome Street affair
Tenants are singing longer leases to lock in low rent. (Getty)
Tenants locking in longer leases as apartment rents rise
Tenants locking in longer leases as apartment rents rise
Last year more people relocated to ZIP codes with lower home values and more space. (Getty)
Long-distance movers found cheaper and larger homes in 2020
Long-distance movers found cheaper and larger homes in 2020
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...