Manhattan luxury market sees slight uptick with $144M in contracts signed: Olshan

Top contract was a unit at 432 Park Avenue

Jan.January 14, 2019 09:00 AM

432 Park Avenue (Credit: Pixabay)

Manhattan’s luxury market saw 13 contracts signed last week for a total of about $144 million, according to the latest report from Olshan Realty.

The contracts signed at $4 million or above were split between seven condos, three co-ops and three townhouses. The number of contracts increased by one from the week before, and the dollar volume increased by about $30 million.

The top contract signed last week was for unit 95A at Harry Macklowe’s 432 Park Avenue, which was asking $41.25 million. The three-bedroom corner unit spans 3,952 square feet.

The second priciest deal was for unit 60B at Extell Development’s 157 West 57th Street, which had an asking price of $28.9 million and reportedly went under contract for about $22 million. The three-bedroom unit spans 4,193 square feet.

Other contracts signed last week included a $7.95 million townhouse at 237 East 61st Street and a $5.85 million co-op at 20 Desbrosses Street.

The properties spent an average of 564 days on the market and had an average discount of 1 percent from the original to the final asking price. [Olshan Realty] – Eddie Small

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