Manhattan luxury market contracts are at “a depressing total”: Olshan

Top contract was a unit at 56 Leonard Street

TRD New York /
Jan.January 21, 2019 08:30 AM

56 Leonard Street and 109 West 11th Street (Credit: Wikipedia)

Manhattan’s luxury market saw 12 contracts signed last week for a total of about $97 million, according to the latest report from Olshan Realty. It was the lowest total for the third week of January since 2012, when only seven contracts were signed.

The contracts signed at $4 million or above were split between nine condos, two co-ops and one townhouse. The number of contracts dropped by one from the week before, and the dollar volume decreased by about $47 million. It was “a depressing total even for this time of year,” according to the report.

The top contract signed last week was for unit PH54 at 56 Leonard Street, which was asking $22 million, down from $30 million when it went on the market in June 2017. The four-bedroom unit spans 5,492 square feet.

The second priciest deal was for a townhouse at 109 West 11th Street, which had an asking price of $11.65 million. The five-bedroom home spans 4,100 square feet and includes a landscaped garden.

Other contracts signed last week included a $10 million condo at 500 Greenwich Street and a $5.85 million co-op at 885 Park Avenue.

The properties spent an average of 747 days on the market and had an average discount of 14 percent from the original to the final asking price. [Olshan Realty] – Eddie Small


Related Articles

arrow_forward_ios
Here are the week’s top luxury sales

Here are the week’s top luxury sales

Here are the week’s top luxury sales
Clockwise from left: John D. Rockefeller, Izzy Englander, Steven Mnuchin, David Koch, Jacqueline Bouvier, and William Zeckendorf (Credit: Getty Images and StreetEasy)

For 15 years, David Koch lived at the world’s “richest building”

For 15 years, David Koch lived at the world’s “richest building”
Here are the week’s top luxury sales

Here are the week’s top luxury sales

Here are the week’s top luxury sales
(Images courtesy of Victor Group)

The Getty condo chops prices up to 53%

The Getty condo chops prices up to 53%
442 Union Street and 257 Berry Street (Google Maps)

Brooklyn’s luxury market reaches new pandemic high

Brooklyn’s luxury market reaches new pandemic high
Marwan Kheireddine (inset), Jennifer Lawrence and 400 East 67th Street (Getty, Compass, BDL Accelerate)

Jennifer Lawrence’s Upper East Side PH sold at 37% loss

Jennifer Lawrence’s Upper East Side PH sold at 37% loss
Senate Minority Leader Chuck Schumer and Senate Majority Leader Mitch McConnell (Schumer by Tasos Katopodis/Getty Images; McConnell by Ting Shen/Xinhua via Getty)

Schumer v. McConnell on SALT: Who’s gonna give?

Schumer v. McConnell on SALT: Who’s gonna give?
111 Leroy Street and 817 Fifth Avenue (StreetEasy, Google Maps)

Luxury deals plummet in Manhattan — again

Luxury deals plummet in Manhattan — again
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...