Manhattan’s luxury market just had its best week of the year

Borough saw 29 deals signed for a total of about $291M
June 24, 2019 09:30AM

432 Park Avenue and 1010 Park Avenue (Credit: Starline via Freepik)

432 Park Avenue and 1010 Park Avenue (Credit: Starline via Freepik)

Manhattan’s luxury market had its best week of the year last week with 29 contracts signed for a total of about $291 million.

The contracts signed at $4 million or above were split between 22 condominiums, five co-ops and two townhouses.

Sales and dollar volume were both up from the week before, when the market saw 22 contracts signed for about $195 million. This was the ninth week in a row with 20 or more sales.

The top sale last week was for a unit at 432 Park Avenue, which was asking $41 million but closed for less than $40 million. The three-bedroom corner unit spans about 4,000 square feet and includes a living room, an eat-in kitchen and a 30-foot master suite.

The second priciest deal was for a unit at 1010 Park Avenue, which was asking $28.5 million. The six-bedroom unit spans about 7,900 square feet, and this marks the second contract signed in the building.

Other contracts signed last week included a townhouse at 37 West 11th Street for $12.85 million and a co-op at 101 Central Park West for $10.4 million. The properties spent an average of 526 days on the market last week and had an average discount of 7 percent from the original to the final asking price. [Olshan] – Eddie Small