Last week’s priciest home sold in two weeks: Olshan
Average days on market stands at 415 so far this year, a 32% increase
At a time when the average residential listing takes more than a year to sell, the city’s priciest listing to go into contract last week did so in just two weeks.
The nine-room, duplex penthouse at the co-op building at 4 East 72nd Street went into contract last week with an asking price of $13.9 million, just two weeks after it was first listed, according to Olshan Realty.
Year-to-date, a listing at or above $4 million sits on the market for an average of 415 days, a 32 percent increase over the same time last year.
“The moral of the numbers: Sellers who lower their prices to a realistic level are more often than not rewarded with a sale,” the Olshan report read.
In all, 29 contracts were signed at $4 million and above during the week of Feb. 13 through Feb. 19. That was five more than the 24 contracts signed the previous week.
The East 72nd Street co-op, which needs a full renovation, features 13-foot ceilings, three fireplaces and wraparound terraces.
The second-most expensive contract was for apartment 73A at Silverstein Properties’ 30 Park Place, which had an ask of $13.6 million.
Condos accounted for 23 of the 29 luxury contracts signed last week, while co-ops made up the remainder. There were not luxury contracts signed on townhouses for the week.
The week ended with a median asking price of $6 million and an average discount from original to last asking price of 4 percent. [Olshan] – Rich Bockmann