Elad’s 250 West Street tops Manhattan luxury’s cool week

Last week’s signed contracts total down 12 from previous week

250 West Street (Naftali Group, Getty)
250 West Street (Illustration by Kevin Cifuentes for The Real Deal with Getty Images, Naftali Group, Getty)

Manhattan’s signed luxury contracts mellowed out last week after a two-week surge.

Eighteen contracts were signed at $4 million and above in Manhattan between Oct. 24 and 28, according to a weekly report by Olshan Realty. The total was 12 fewer than the previous week.

The priciest home to enter into contract was 10A at the Elad Group’s 250 West Street. The unit asked $12.25 million and was listed just one month ago. The seller purchased the apartment from the sponsor for over $7 million in 2013.

The condo has four bedrooms and four and a half bathrooms spanning 4,100 square feet. The kitchen opens onto a corner great room overlooking the Hudson River.

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The second priciest home to enter into contact was the fifth floor of 817 Fifth Avenue. It asked just under $12 million, reduced from $12.5 million when it was listed in the beginning of September. The seller purchased the unit for almost $10 million in October 2020.

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The full-floor prewar condo has four bedrooms and four bathrooms, along with an office, staff room and laundry across 3,800 square feet. The unit, which overlooks Fifth Avenue, is in need of a complete renovation and is being sold with a set of renovation plans.

Of the 18 contracts signed this week, 12 were condos, five co-ops and one townhouse.

The units spent an average of 579 days on the market, with an average discount of 12 percent. The median asking price was $5.8 million. The asking prices for the homes that went into contract last week totaled $120 million.