There were 20 deals last week in Manhattan’s luxury market: Olshan

Co-ops caught up to condo sales for the first time in 6 years

Jun.June 10, 2019 10:30 AM
12 East 81st Street and 145 Central Park West

12 East 81st Street and 145 Central Park West

Manhattan’s luxury market saw 20 contracts signed last week for a total of about $160 million, according to the latest report from Olshan Realty. It marked the seventh straight week with twenty or more sales.

The contracts signed at $4 million or above were split between nine co-ops, nine condos and two townhouses. That was the first time in six years that co-ops caught up with condos sales.

Sales volume and dollar volume were both down from the week before, when the market saw 23 deals for about $221 million.

The top sale was a townhouse at 12 East 81st Street, with an asking price of $25 million that had been listed since September. The seller paid $19.6 million in 2010. The 81st Street townhouse is a five-story, 20-foot-wide brick house with 6,840 square feet.

The second biggest sale was 3C at 145 Central Park West, with an asking price of $16.75 million, reduced from $20 million when it went on the market in October. The co-op is in the San Remo, known for its celebrity residents including Steven Spielberg, Steve Martin and Bono.

Other contracts signed last week included a co-op at 32 East 64th Street for $9,950,000 and a condo at 500 Park Avenue for $9,900,000. The properties spent an average of 260 days on the market last week and had an average discount of 5 percent from the original to the final asking price. [Olshan] — Georgia Kromrei

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