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

Top contract was a unit at 56 Leonard Street

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
1045 Madison Avenue and 300 Central Park West (The Benson; Wikipedia Commons)

Manhattan luxury market shows signs of progress with 25 deals

Manhattan luxury market shows signs of progress with 25 deals
TikTok's biggest stars include (from left) Bryce Hall, Griffin Johnson, Addison Rae, Charli D'Amelio and Dixie D’Amelio (Getty)

Firm that manages TikTok party houses goes public

Firm that manages TikTok party houses goes public
RMBS then and now: Do securitized home loans still matter?

RMBS then and now: Do securitized home loans still matter?

RMBS then and now: Do securitized home loans still matter?
From left: LX Collection's Justin Kitrosser, Terry Villani and Jared Seeger (Photos via LX Collection)

New platform aims to be “Neiman Marcus” of luxury listings

New platform aims to be “Neiman Marcus” of luxury listings
The Studio City house that stood in for Kris Jenner’s home on “Keeping Up With The Kardashians” is back on the market (Photos via Zillow; Getty)

Fake Kardashian home in Studio City gets price bump

Fake Kardashian home in Studio City gets price bump
arrow_forward_ios

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

Loading...