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

Time Warner Center condo goes into contract with 25% discount

TRD New York /
Nov.November 12, 2018 09:45 AM

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

 

Related Articles

arrow_forward_ios

At $225M, Bel Air’s Casa Encantada becomes America’s priciest listing

Brokerage firms are strategizing ways to make up losses after the cost of application fees was capped at $20. (Credit: iStock)

Brokerages on rental application fee cap: “It hurts”

Alex Rodriguez (Photos by Guerin Blask)

A-Rod is coming for NYC and SoFla real estate

There will be 70 agents based at the new office (Credit: iStock)

Compass opens Long Island City office as new-development sales surge

Kuwaiti royal was defrauded of $160M investment in Mountain of Beverly Hills: lawsuit

The Daily Digest - Tuesday

New life for Toys “R” Us, Masa Son is “embarrassed” with the Vision Fund: Daily digest

Nooklyn CEO Harley Courts (Credit: iStock)

Brokerage slashes agent commissions, delays payments after rent law change

Clockwise from left: 240 Riverside Boulevar with  Charles Zegar, 111 Murray Street, and 220 Central Park South (Credit: Google Maps, Getty Images, and CityRealty)

Here are some of the Big Apple’s recent luxury resi buys

arrow_forward_ios