The Real Deal New York

Manhattan’s luxe market notched 21 contracts last week: Olshan

SOM-designed Billionaires’ Row tower takes the top spot
October 29, 2018 10:15AM

252 East 57th Street and 30 Sullivan Street (Credit: SOM)

Manhattan’s luxury residential market recorded 21 contracts last week at $4 million and up, according to Olshan Realty’s weekly luxury market report.

Rose Associates and World Wide Group’s Billionaires’ Row condominium tower at 252 East 57th Street snagged the week’s top contract. The duplex unit 58/59B had an asking price of $13.87 million.

That’s a nearly 7 percent discount off the $14.87 million the home was asking when it hit the market in September 2014.

The contract price for the 4,516-square-foot, five-bedroom home works out to roughly $3,072 per square foot. Stribling Marketing Associates is handling sales at the glassy, SOM-designed building.

The project currently has a penthouse listed for $29.75 million, down 21 percent from the $37.5 million it had been asking when it hit the market last October.

A Soho townhouse at 30 Sullivan Street claimed the week’s second-priciest deal with an asking price of $12.5 million. The 25-foot-wide, 5,900-square-foot home has an asking price that works out to almost $2,119 per square foot.

Robert Dankner and Maude Davis at Prime Manhattan Realty had the listing.

Tech investor Arthur Becker bought the home in 2016 for $8.23 million.

The week’s asking-price contract volume totaled $156.55 million, with a median asking price of $6.5 million. Luxury homes in Manhattan spent an average of 541 days on the market, with an average discount of 17 percent off the original asking price. [Olshan Realty] – Rich Bockmann