Manhattan’s luxury market stuck in holiday hangover

A Waterline Square apartment topped a sluggish market last week

10 Riverside Boulevard
10 Riverside Boulevard (One Waterline Square, Getty)

Manhattan’s luxury market is still dealing with a holiday hangover.

The borough saw 15 signed contracts for the fifth week in a row to record less than 20, according to Olshan Realty’s weekly report of homes asking $4 million or more.

The most expensive home to enter contract last week was PHA at 10 Riverside Boulevard, known as GID Development’s One Waterline Square, with an asking price of $27 million. The 6,500-square-foot condo has five bedrooms and six and a half bathrooms.

A 50-foot living room with a fireplace opens onto a partially enclosed terrace measuring just under 1,000 square feet. The apartment has a library and primary suite with a dressing room, along with views of the Hudson River and skyline.

The unit is the most expensive to go into contract in the Waterline Square complex.

Amenities at the 37-story building, designed by Pritzker Prize-winning architect Richard Meier, include indoor pools, a basketball court, squash court, rock climbing wall, indoor soccer field and golf simulator.

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The second most expensive unit to enter contract last week was 19C at 930 Fifth Avenue, with an asking price over $9.2 million, down from $11.5 million.

The co-op, which previously asked $11.5 million, has two bedrooms and two bathrooms, plus two terraces. The seller paid $7.5 million for the apartment in 2010 for the unit.

The primary bedroom and the living room, which has a fireplace and terrace, face Central Park. The dining room opens onto a 28-foot south-facing terrace with an awning.

The co-op board allows 33 percent financing but does not allow pets.

Of the 15 contracts signed last week, seven were for co-ops, seven were for condos and one was for a townhouse. Combined volume totaled $114.5 million, the average asking price was $7.6 million and the median asking price was $5.8 million. The typical home spent 557 days on the market and was discounted 8 percent.