Developers only sold 3 luxury apartments in Manhattan last week

Manhattan’s luxury market saw 17 contracts signed last week for a total of about $127 million, according to the latest report from Olshan Realty.

The contracts signed at $4 million or above were split between six condos, six townhouses and five co-ops. Out of the six townhouses, five were in the East 70s and 80s between Lexington and Park Avenues. Only three of the units that went into contract were sold by developers.

Total sales and dollar volume were both down from the week before, when 27 contracts were signed for about $213 million.

The top contract last week was for a penthouse unit at 1 West 67th Street, which went for slightly less than $12 million, down from $19 million when it was listed in June 2017. The triplex co-op has four bedrooms and is located in the Hotel des Artistes.

The second priciest deal was for a townhouse at 182 East 75th Street, which went for $11.5 million. The four-story house spans 5,850 square feet and includes five bedrooms. It was purchased in May 2015 for $9.28 million and then renovated.

Other contracts signed last week included an $11.45 million condo at 101 West 78th Street and a $10.75 million townhouse at 140 East 65th Street.

The properties spent an average of 306 days on the market last week and had an average discount of 12 percent from the original to the final asking price. [Olshan Realty] – Eddie Small