The Real Deal New York

Manhattan’s luxe resi market recorded 17 contracts last week: Olshan

It was another sluggish week for pricey home sales
October 01, 2018 09:15AM

432 Park and exterior and interior renderings of the Carlton House at 21 East 61st Street (Credit: Wikipedia and The Carlton House)

Manhattan’s luxury residential market experienced another sluggish week, with just 17 contracts signed at $4 million and up, according to Olshan Realty’s weekly market report.

Harry Macklowe and CIM Group’s 432 Park Avenue claimed the week’s priciest deal for the seventh time this year. Unit 41C went into contract with an asking price of $17.17 million.

That works out to a price of roughly $4,800 per square foot for the 3,575-square-foot, three-bedroom unit. Douglas Elliman’s Richard Steinberg, Sabrina Saltiel, J. Roger Erickson and Shari Scharfer-Rollins have the listing.

Extell Development and Angelo, Gordon & Co.’s condop conversion of the Carlton House at 21 East 61st Street notched the week’s second priciest deal. The sponsor unit 5E had an asking price of $12.5 million, a reduction of nearly 17 percent off the $15 million the apartment had original been asking when it hit the market in May 2014.

The contract price works out to more than $3,000 per square foot. Brown Harris Stevens’ Daniella Schlisser has the listing.

The week’s contract asking price volume for luxury homes totaled $128.13 million, with a median asking price of $6.49 million.

Luxury homes spent an average of 521 days on the market, with an average discount of 8 percent from the original asking price to the final asking price. [Olshan] – Rich Bockmann