Manhattan luxury market logs best Thanksgiving week ever

37 contracts were signed for homes asking $4M or more

New York /
Nov.November 29, 2021 06:15 PM
The 17 Jane Street duplex condo (Compass)

The 17 Jane Street duplex condo (Compass)

The holiday week gave New York’s high-end real estate agents plenty of reasons to be thankful. Thirty-seven, to be exact.

That is how many contracts for homes asking at least $4 million were signed last week, the most during Thanksgiving week since Olshan Realty began tracking luxury Manhattan contracts in 2006. The average number of contracts signed during Thanksgiving over the past decade has been 12.

The asking prices for the 37 deals totaled just over $315 million. The week before, the number was $613.7 million, a record high.

“Talk about a Thanksgiving gorge,” said Donna Olshan, the report’s author. “That’s it.”

The median asking price for the 37 homes was $5.95 million. The average discount from the original ask to the final one was 2 percent, down from 4 percent the prior week. Nearly all of the deals were for condos; only three were for co-op units and one was for a townhouse.

The second priciest condo at 960 Fifth Avenue (Brown Harris Stevens)

The second priciest condo at 960 Fifth Avenue (Brown Harris Stevens)

The most expensive was a duplex condo at Edward J. Minskoff Equities’ project at 17 Jane Street in the West Village. The 6,378-square-foot unit was last asking $31.9 million. The apartment also includes a cellar level and a 1,773-square-foot garden. It was the last to sell of the boutique building’s seven units. The buyer, who is American but otherwise unknown to Olshan, had previously purchased a unit one floor above.

The second highest asking price among the 37 contracts was $28 million for a pre-war co-op with 11 rooms and four bedrooms on the fourth floor of the white-glove building at 960 Fifth Avenue. The unit’s 39-foot living room and a 28-foot dining room overlook Central Park. The unit comes with four fireplaces and a library, but the apartment needs an extensive renovation, according to Olshan’s report.





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