Manhattan luxury market on track for worst January since 2012: Olshan

Market saw 11 contracts for $4 million or higher signed last week

New York /
Jan.January 28, 2019 10:30 AM

62 Cooper Square (Credit: Google Maps)

Manhattan’s luxury market saw 11 contracts signed last week for a total of about $60.6 million, according to the latest report from Olshan Realty. This indicates that the market will likely finish the month with its lowest totals since 2012.

The contracts signed at $4 million or above were split between 10 condos and one co-op. The number of contracts dropped by one from the week before, and the dollar volume decreased by about $36.4 million.

The dollar volume was the lowest total since the first week of 2014, when it was at about $59.2 million, and not a single sale was for more than $10 million, which only happened once in the middle of November last year.

The top contract signed last week was for a condo at 62 Cooper Square, which was asking $9.5 million. The three-bedroom unit spans 6,700 square feet.

The second priciest deal was for a condo at 275 West 10th Street, which had an asking price of $7.45 million. The three-bedroom corner unit spans 2,885 square feet.

Other contracts signed last week included a $6 million condo at 388 West Broadway and a $4.1 million co-op at 257 West 86th Street.

The properties spent an average of 599 days on the market and had an average discount of 11 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
Anderson Cooper is selling the apartment of his late mother Gloria Vanderbilt (Getty, Corcoran)
Gloria Vanderbilt’s Beekman Place apartment lists for $1.1M
Gloria Vanderbilt’s Beekman Place apartment lists for $1.1M
Some real estate agents are seeing a rebound in international interest, but others believe foreign buyers aren’t quite back yet. (iStock)
Some say foreign buyers are back, but evidence is anecdotal
Some say foreign buyers are back, but evidence is anecdotal
Susan Rice (Getty, iStock)
Susan Rice to co-chair home appraisal inequity task force
Susan Rice to co-chair home appraisal inequity task force
Rep. Alexandria Ocasio-Cortez and President Joe Biden (Getty)
Tenant advocates frustrated with Biden’s eviction response
Tenant advocates frustrated with Biden’s eviction response
Dumped by Macklowe and Churchill, Core Real Estate demands fees
Dumped by Macklowe and Churchill, Core Real Estate demands fees
Dumped by Macklowe and Churchill, Core Real Estate demands fees
arrow_forward_ios

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

Loading...