The Real Deal New York

Manhattan’s luxe resi market recorded 22 contracts last week: Olshan

The first week with more than 20 contracts since August
October 08, 2018 10:35AM

From left: 34 East 70th Street and 33 East 74th Street

Last week, more than 20 luxury properties in Manhattan went into contract for the first time since the end of August.

The luxury residential market saw 22 contracts signed at $4 million and above, according to Olshan Realty’s weekly market report.

The top spot went to an Upper East Side townhouse. The property at 34 East 70th Street was asking $22.5 million, reduced from $32.5 million. The roughly 12,000-square-foot structure is configured as 10 units and ready for conversion to a single-family home. Brown Harris Stevens’ Paula Del Nunzio, Leslie R. Coleman and Mary K. Rutherfurd have the listing.

The week’s second priciest deal was Apartment 4A at Straus Group affiliate JZS Madison’s 33 East 74th Street. It was asking $15.9 million. The unit is in a boutique condo building that was created from a row of landmark brownstones next to the former Whitney Museum. Douglas Elliman’s Richard Steinberg, Matthew Slosar, Alexander Mignogna and Lauren Keegan have the listing. The asking price works out to $4,128 per square foot.

The week’s contract asking price volume for luxury homes totaled $168.28 million, with a median asking price of $5.86 million.

Luxury homes spent an average of 349 days on the market, with an average discount of 14 percent from the original asking price to the final asking price. [Olshan] — Meenal Vamburkar