Luxury resi market strong for fourth straight week

30 contracts signed at $4M and above: Olshan

Clockwise: 380 West 12th Street PHC in West Village, 400 Park Avenue South 27B in NoMad, 1 East End Avenue in UES and 30 Park Place 67B in Tribeca
Clockwise: 380 West 12th Street PHC in West Village, 400 Park Avenue South 27B in NoMad, 1 East End Avenue in UES and 30 Park Place 67B in Tribeca

What luxury residential market slowdown? A full 30 contracts were signed last week at $4 million above, the highest total so far this year, according to Olshan Realty’s weekly market report.

That marks four strong weeks in a row, with 29, 28 and 28 contracts signed over the past three, respectively.

Of those signed last week, nine were for over $10 million, also a 2016 record. Sales in new developments accounted for 16 deals, just over half the total. The median asking price for the units sold last week was $ 7.7 million, units were discounted 8 percent on average from the asking price and spent an average of 287 days on the market.

Sign Up for the undefined Newsletter

By signing up, you agree to TheRealDeal Terms of Use and acknowledge the data practices in our Privacy Policy.

The most expensive contract was for unit 9A at the Rudin Management’s five-building Greenwich Lane condominium development at 155 West 11th Street in the West Village. The nearly 4,000-square-foot four-bedroom unit, which features a 58-foot living room, asked $16.5 million million. Greenwich Lane is now about 95 percent sold, according to Olshan Realty.

The second largest contract was for the three-bedroom, 3,889-square-foot unit 3B at 33 East 74th Street, known as the Whitney Condos, whose owner asked $14.6 million. [Olshan Realty]Ariel Stulberg