The Real Deal New York

Manhattan’s luxe resi market records 20+ contracts for third week in a row

Time Warner Center condo goes into contract with 25% discount
November 12, 2018 09:45AM

Paula Del Nunzio and Time Warner Center at 10 Columbus Circle and 269 West 87th Street (Credit: Wikipedia)

Manhattan’s luxury residential market notched more than 20 contracts for the third week in a row, according to Olshan Realty’s weekly market report.

Twenty-one contracts were signed at $4 million and up last week.

The Time Warner Center’s unit 72C was the week’s priciest deal, with an asking price of $17.95 million. That’s a reduction of more than 25 percent off the $24.5 million the four-bedroom apartment at 80 Columbus Circle had been asking when it hit the market in May 2016.

The contract price works out to roughly $5,662 per square foot. Paula Del Nunzio and Annie Petrocelli at Brown Harris Stevens have the listing.

The week’s second most-expensive contract went to unit 12 AB at the Chamberlain co-op building at 269 West 87th Street, which had an asking price of $11.35 million. The contract price on the six-bedroom apartment works out to about $2,454 per square foot.

Douglas Elliman is handling sales at the 39-unit building, which is developed by Simon Baron Development and Quadrum Global.

The week’s asking-price contract volume totaled $153 million, with a median asking price of $6.5 million. Manhattan luxury homes spent an average of 417 days on the market, with an average discount of 9 percent from the original asking price to the final asking price. [Olshan Realty] – Rich Bockmann