The Manhattan luxury market just had its busiest week since the summer

Market saw 28 contracts for $4 million or higher signed last week

TRD New York /
Feb.February 25, 2019 08:30 AM

1 Sutton Place and 207 West 79th Street

Manhattan’s luxury market saw 28 contracts signed last week for a total of about $213 million, the strongest week the market has seen since the third week of June, according to the latest report from Olshan Realty.

The contracts signed at $4 million or above were split between 16 condos, six co-ops and six townhouses. The number of contracts increased by two from the week before, while the dollar volume decreased by about $32 million.

The top contract last week was for a townhouse at 1 Sutton Place, which was asking $18.5 million, down from $21 million when it hit the market in September. The six-bedroom house spans, owned by the estate of Drue Heinz, 7,000 square feet and includes six fireplaces and a garden. The second priciest deal was for the penthouse at 207 West 79th Street, which had an asking price of $14.25 million, down from $15.45 million when it was listed back in March 2017. The condo spans 4,336 square feet and includes four bedrooms and a library.

Although the luxury market has seen a strong past two weeks, overall, the first two months of the year are still on track to see a 23 percent drop in luxury contracts compared to last year, according to Olshan.

Other contracts signed last week included a roughly $12 million townhouse at 10 East 92nd Street and a $6.5 million co-op at 510 Park Avenue.

The properties spent an average of 488 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
394 Vanderbilt Avenue (Douglas Elliman)

As weather heats up, Brooklyn luxury market doesn’t

As weather heats up, Brooklyn luxury market doesn’t
The threat of eviction hangs heavily above immigrant families who have lost work as a result of the coronavirus pandemic. (Getty)

Eviction bans don’t always protect the most vulnerable

Eviction bans don’t always protect the most vulnerable
Seth Campbell (iStock)

Keller Williams to cut ties with top franchise owner following sexual harassment allegations

Keller Williams to cut ties with top franchise owner following sexual harassment allegations
Ghost Towers

NYC’s ghost towers: How many Manhattan luxury condos are owned by people who don’t live there?

NYC’s ghost towers: How many Manhattan luxury condos are owned by people who don’t live there?
Manhattan homes flooded the market last week but buyers are nowhere to be found 

Manhattan homes for sale nearly doubled last week

Manhattan homes for sale nearly doubled last week
arrow_forward_ios

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

Loading...