Manhattan’s luxe resi market notched 18 contracts last week: Olshan

Third quarter deal activity up 12 percent from last year

New York /
Sep.September 24, 2018 11:15 AM

From left: 27 East 79th Street, Kyle Blackmon, and 432 Park Avenue (Credit: Compass and 432parkavenue)

Manhattan’s luxury residential market recorded 18 contracts last week at $4 million and above, according to Olshan Realty’s weekly market report.

That was on par with the 17 contracts notched during last year’s Yom Kippur week. And it closed out the third quarter of the year, which saw contract activity of 233 deals — up nearly 12 percent from 206 contracts during the same time last year.

Harry Macklowe and CIM Group’s 432 Park Avenue claimed the week’s No. 1 spot for the sixth time this year. Unit 68B — a resale originally purchased in 2016 — went into contract last week with an asking price of $29.2 million, a slight reduction off the $30.9 million it had been asking when the condominium first hit the market in July 2017.

The purchase price for the four-bed, four-and-a-half-bath apartment works out to about $7,265 per square foot. The seller paid $27.12 million for the home in September 2016.

Compass’ Kyle Blackmon has the listing.

The Upper East Side boutique condo building at 27 East 79th Street claimed the week’s second-priciest deal: a triplex apartment asking $16.85 million.

Unit TH2 at the building, developed by Adellco, spans the second, third and fourth floors of the 15-story building. The contract price works out to $3,790 per square foot.

Corcoran Sunshine Marketing Group’s Pamela Johananoff, Leighton Candler and Bradley Comisar are handling sales at the building.

The week’s contract asking-price volume totaled $151.65 million, up 33.5 percent from $113.55 million the same week last year. The median asking price was $6.22 million.

Luxury homes spent an average of 428 days on the market, with an average discount of 2 percent from the original asking price to the final asking price. [Olshan Realty] – Rich Bockmann

 

Related Articles

arrow_forward_ios
1045 Madison Avenue and 300 Central Park West (The Benson; Wikipedia Commons)

Manhattan luxury market shows signs of progress with 25 deals

Manhattan luxury market shows signs of progress with 25 deals
TikTok's biggest stars include (from left) Bryce Hall, Griffin Johnson, Addison Rae, Charli D'Amelio and Dixie D’Amelio (Getty)

Firm that manages TikTok party houses goes public

Firm that manages TikTok party houses goes public
RMBS then and now: Do securitized home loans still matter?

RMBS then and now: Do securitized home loans still matter?

RMBS then and now: Do securitized home loans still matter?
From left: LX Collection's Justin Kitrosser, Terry Villani and Jared Seeger (Photos via LX Collection)

New platform aims to be “Neiman Marcus” of luxury listings

New platform aims to be “Neiman Marcus” of luxury listings
The Studio City house that stood in for Kris Jenner’s home on “Keeping Up With The Kardashians” is back on the market (Photos via Zillow; Getty)

Fake Kardashian home in Studio City gets price bump

Fake Kardashian home in Studio City gets price bump
Behzad Aghazadeh and the Brooklyn townhouse (Photos via Avoro Capital and Google Maps)

$16M townhouse sale sets Brooklyn record

$16M townhouse sale sets Brooklyn record
From left: Google's Sundar Pichai, Facebook's Mark Holliday, and Factory_OS's Rick Holliday and Larry Pace (Getty; Factory_OS; iStock)

Facebook, Google back modular housing startup

Facebook, Google back modular housing startup
(Getty)

These are the top 10 priciest zip codes in the US

These are the top 10 priciest zip codes in the US
arrow_forward_ios

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

Loading...