In Manhattan’s fickle luxury market, one big contract is an achievement. Two in one week at the same building, these days, is almost unheard of.
But a condominium at 90 Morton Street has defied the odds, recording the two most expensive deals last week, according to the latest market report from Olshan Realty.
The number-one deal was a duplex penthouse on the building’s 11th and 12th floors, asking $33 million. It originally went into contract last January, but the buyer backed out of the deal after the pandemic hit.
The 5,254-square-foot home has five bedrooms, five and a half bathrooms and more than 2,000 square feet of terrace space.
The number-two deal was a 3,537-square-foot unit, asking $9.45 million. The buyers of the “townhouse unit,” which has its own private entrance, are local New Yorkers, according to listing broker Shlomi Reuveni of Reuveni Real Estate.
The contracts were among 11 last week in Manhattan — one higher than the same period last year. Deals have fallen overall in Manhattan, with new condo contracts down 38 percent in August from the previous year, according to a report from Douglas Elliman.
But brokers have reported an uptick of late, as warm weather draws New Yorkers from their homes and more of the city reopens. (Discounts could also be a factor, but the extent to which these are being offered won’t become clear until the deals close.)
“I have had back-to-back appointments in the building in the last three weeks, Reuveni told Donna Olshan, who authors the market report. Reuveni added that the people are “affluent, mainly local buyers, and some are bicoastal.”
In the 11 weeks since Gov. Andrew Cuomo lifted the ban on in-person showings in New York, 103 properties above $4 million have gone into contract in Manhattan, for a total value of $794.8 million, Olshan’s report shows. In the same period last year, 153 deals were signed for a total value of $1.15 billion.
“I think things are down but there is more interest and more activity — definitely,” Olshan said.
“But let’s be clear, it’s going to be a spotty market until we get a vaccine.”