Luxury market records 29 contracts following Thanksgiving slump: Olshan

UWS brownstone asking $16M takes the top spot

28 West 76th Street and Cathy Taub
28 West 76th Street and Cathy Taub

An Upper West Side brownstone that went into contract with an asking price of $16 million was the priciest deal during an active week for luxury sales following the Thanksgiving holiday, according to Olshan Realty’s weekly luxury market report.

The five-story townhouse at 28 West 76th Street went into contract with an asking price of $15.95 million, a roughly 11 percent discount to the $17.95 million the sellers had been asking when the home first hit the market in February.

The owners paid $4.6 million for the 7,750-square-foot property when they bought it in 2006. Cathy Taub of Sotheby’s International Realty had the listing, according to StreetEasy.

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Overall, the week saw 29 contracts signed at $4 million and above, compared to 15 signed during the traditionally slow holiday week prior.

The No. 2 most-expensive contract was a tie between a co-op at 784 Park Avenue and a townhouse at 20 Sullivan Street, both of which had an asking price of $14.99 million.

The week’s asking price volume totaled $246.56 million, with a median asking price of $8.15 million, according to Olshan. Luxury homes spent an average of 581 days on the market, with an average discount of 6 percent from the original ask to the final listing price. [Olshan] – Rich Bockmann