Not one luxury co-op went into contract: weekly report
Not a single co-op went into contract at $4 million or above last week, a first for 2013, according to a weekly luxury market report from Olshan Realty released today. Ten condominiums and four townhouses went into contract.
The highest contract was for an eighth-floor, 5,364-square-foot condo at 40 Bond Street, the building developed by Ian Schrager and designed by Pritzker Prize-winning architects Herzog & de Meuron. The asking price was $25 million, reduced from $27 million when it hit the market in April.
The next priciest home was a unit at 15 Central Park West, asking $16.9 million. The 2,367-square-foot apartment has a 27-foot living room and a 20-foot park-facing formal dining room, the report shows.
The average asking price for luxury condos that went into contract was $10.3 million; the average asking price for townhouses was $8.1 million. — Hiten Samtani