Carhart Mansion unit in contract as Manhattan luxury market bounces back

After three weeks of decline, 24 deals signed for homes asking $4M-plus

3 East 95th Street and 267 West 11th Street (Google Maps, Getty)
3 East 95th Street and 267 West 11th Street (Google Maps, Street Easy, Getty)

Manhattan’s luxury market appears to have awakened.

After three weeks of decline, the borough last week counted 24 contracts signed for homes asking $4 million and above, according to Olshan Realty — double the previous week’s total.

Six of those contracts were for properties asking more than $10 million, the most trophy properties to enter into contract since the week of May 9, when seven did.

The priciest Manhattan home to go into contract last week was a townhouse at 267 West 11th Street asking $25 million off-market. “Reliable sources” cited by the report said the contract was signed at $23 million. The sellers paid $7.3 million for the home in November 2010.

A Greek revival house, it is four stories, more than 6,000 square feet, 23 feet wide and built on a 25-foot-wide lot. It has a carriage house in the back. The home comes with approved plans from the NYC Landmarks Preservation Commission for a metal-and-glass rear curtain wall for the main house and a skylight and glass windows for the carriage house.

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The second priciest home to enter into contract was Duplex2 at 3 East 95th Street. The condo unit asked $23.9 million, down from $28.4 million when it was listed in March 2020. The sellers paid $15.8 million in 2005.

The home is a duplex spanning 10,000 square feet. The five-bedroom, five-and-a-half-bathroom unit is in the Carhart Mansion, an 88-foot-wide, seven-story limestone house that was converted into a four-unit condo in 2004.

The condo has a 45-foot living room with a fireplace and 18.5-foot ceilings, along with a primary bedroom, two studies, a formal dining room, and a kitchen and breakfast room downstairs. Upstairs are four other bedrooms, a gym and a laundry room.

Of the 24 contracts, 15 were for condos, five for co-ops and four for townhouses.

The units spent an average of 540 days on the market, with an average discount of 9 percent. The median asking price was $6 million. The asking prices for the homes that went into contract last week totaled $198 million.