The Real Deal New York

The Manhattan luxury market’s streak of topping 20 weekly sales is over

Market saw 15 contracts signed last week for about $118M
March 11, 2019 10:00AM

2 Park Place and 960 Park Avenue (Credit: Google Maps)

Manhattan’s luxury market saw 15 contracts signed last week for a total of about $118 million, ending its streak of topping 20 sales at three weeks, according to the latest report from Olshan Realty.

The contracts signed at $4 million or above were split between 10 condominiums and five co-ops. The number of contracts decreased by seven from the week before, and the dollar volume decreased by about $97 million.

The top contract last week was for a condo at 2 Park Place, which was asking about $21.3 million. The four-bedroom unit in the historic Woolworth Building spans 6,095 square feet. It was listed back in 2014-15 and then returned to the market in 2017 after getting pulled for renovations.

The second priciest deal was for a co-op at 960 Park Avenue, which had an asking price of $14.5 million. The six-bedroom co-op includes a library and two fireplaces.

Other contracts signed last week included a roughly $13.5 million condo at 7 Hubert Street and a roughly $7.5 million co-op at 925 Park Avenue.

The properties spent an average of 576 days on the market and had an average discount of 13 percent from the original to the final asking price. [Olshan Realty] – Eddie Small