There were 27 deals last week in Manhattan’s luxury market: Olshan

Priciest deal was for $58M at a unit in 212 Fifth Avenue, the most expensive contract of the year

May.May 20, 2019 09:00 AM
212 Fifth Avenue and 134 East 74th Street 

212 Fifth Avenue and 134 East 74th Street

Manhattan’s luxury market saw 27 contracts signed last week for a total of about $291 million, according to the latest report from Olshan Realty. The contracts included the most expensive deal of the year so far.

The contracts signed at $4 million or above were split between 16 condos, nine co-ops and two townhouses.

Sales volume and dollar volume were both up from the week before, when the market saw 23 deals for about $207 million.

The top sale last week was for the penthouse at 212 Fifth Avenue, which had an asking price of $58 million. This was a 21 percent reduction from its original asking price in October 2015 of $73.8 million. But still, the five-bedroom, 10,000-square-foot triplex is the highest priced contract of the year so far.

Second place went to a townhouse at 134 East 74th Street, which had an asking price of $29.5 million. The owner bought the house in 2008 for $12 million, and it was previously listed in 2011 for $26 million before getting pulled from the market. The seven-bedroom house spans 9,800 square feet and has been under construction for years. It is being sold partially finished.

Other contracts signed last week included a condo at 42 Crosby Street for about $25 million and a co-op at 240 Centre Street for $12.75 million. The properties spent an average of 422 days on the market last week and had an average discount of 13 percent from the original to the final asking price. [Olshan] – Eddie Small

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