Manhattan luxury market topped 20 sales for third straight week: Olshan

Market saw 22 contracts for $4 million or higher signed last week

TRD New York /
Mar.March 04, 2019 11:00 AM

56 Leonard Street

Manhattan’s luxury market saw 22 contracts signed last week for a total of about $215 million, the third week in a row that the market has topped 20 sales, according to the latest report from Olshan Realty.

The contracts signed at $4 million or above were split between 10 condos, seven co-ops and five townhouses. The number of contracts decreased by six from the week before, while the dollar volume increased by about $2 million.

The top contract last week was for a condo at 56 Leonard Street, which was asking $27 million, down from $35 million when it hit the market in February 2017. The four-bedroom unit spans 6,400 square feet and includes three terraces.

The second priciest deal was for a townhouse at 135 West 11th Street, which had an asking price of $25 million. The house is 22.75 feet wide and includes five bedrooms and two fireplaces. It also features 1,200 square feet of outdoor space, a garden and a pair of rooftop terraces.

Other contracts signed last week included a $7 million co-op at 850 Park Avenue and a roughly $6 million condo at 290 West Street.

The properties spent an average of 524 days on the market and had an average discount of 12 percent from the original to the final asking price. [Olshan] – Eddie Small

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