The Manhattan luxury market’s lackluster winter continues: Olshan
Market saw 16 contracts for $4 million or higher signed last week
Manhattan’s luxury market saw 16 contracts signed last week for a total of about $114 million, continuing its lackluster winter, according to the latest report from Olshan Realty.
The contracts signed at $4 million or above were split between nine condos, five co-ops and two townhouses. The number of contracts increased by one from the week before, while the dollar volume decreased by about $18 million.
Both of the top two contracts last week were for co-ops, the first time this has happened since March 2017. The top contract was for a co-op at 941 Park Avenue, which was asking $12.5 million, down from $13.5 million when it hit the market in August. The duplex contains four bedrooms and 4.5 bathrooms.
The second priciest deal was for a co-op at 117 East 72nd Street, which had an asking price of $11.5 million, down from $12.5 million when it was listed in October. The co-op has 14 rooms, four bedrooms and three fireplaces.
Another notable sale last week was the townhouse at 45 West 84th Street, which was sold by “Law and Order: SVU” actress Mariska Hargitay for $9.75 million. The brownstone stands six stories tall and spans 6,925 square feet, and it was the top townhouse sale of the week.
Other contracts signed last week included a $10.25 million condo at 160 Central Park South and an $8 million condo at 277 Fifth Avenue.
The properties spent an average of 383 days on the market and had an average discount of 8 percent from the original to the final asking price. [Olshan] – Eddie Small