There were 23 deals last week in Manhattan’s luxury market: Olshan

Priciest deal was for $58M at a unit in 111 West 57th Street, tied for the most expensive contract of the year

New York /
May.May 28, 2019 08:30 AM
111 West 57th Street and 60 East 83rd Street

111 West 57th Street and 60 East 83rd Street (Credit: Getty Images)

Manhattan’s luxury market saw 23 contracts signed last week for a total of about $221 million, according to the latest report from Olshan Realty. The contracts included a tie for the most expensive deal of the year so far.

The contracts signed at $4 million or above were split between 12 condos, eight co-ops and three townhouses.

Sales volume and dollar volume were both down from the week before, when the market saw 27 deals for about $291 million.

The top sale last week was for a penthouse at JDS Development Group and Property Markets Group’s 111 West 57th Street, which had an asking price of $58 million. This was the second week in a row that a $58 million sale topped the list, following last week’s deal at the same price for a unit in Madison Equities, Building and Land Technologies and Thor Equities’ 212 Fifth Avenue. Both are tied for Manhattan’s priciest sale of the year so far. The West 57th Street unit is a three-bedroom duplex spanning 7,175 square feet.

Second place went to a townhouse at 60 East 83rd Street, which had an asking price of $17.25 million. It stands seven stories tall and is 20 feet wide. The six-bedroom unit spans 8,575 feet overall.

Other contracts signed last week included a condo at 212 Fifth Avenue for $16.9 million and a co-op at 50 East 77th Street for $6.8 million. The properties spent an average of 399 days on the market last week and had an average discount of 4 percent from the original to the final asking price. [Olshan] – Eddie Small


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