Manhattan luxury contracts notch busy streak

More than 25 deals for three weeks running

Manhattan Luxury Contracts Notch Busy Streak
778 Park Avenue, 14 East 81st Street (Google Map, Getty)

It looks like spring has come early for Manhattan’s luxury market. 

Twenty-seven units went into contract last week, according to Olshan Realty’s weekly report of homes in the borough asking at least $4 million, the third week in a row of more than 25 deals. 

The most expensive home to enter contract was the 9th floor at 778 Park Avenue. The unit was asking $20 million, down from $25 million when it was listed in October. 

The six-bedroom, seven-bathroom apartment has three wood-burning fireplaces and 11-foot ceilings. A 600-square-foot living room overlooks Central Park, as does the library, dining room and one bedroom. The apartment also comes with a staff room. 

The co-op board does not allow financing and monthly maintenance is $26,000.

The unit was a co-exclusive listing between Lisa Tarnopol Deslauriers and Linda Reiner of Coldwell Banker Warburg and Sotheby’s Nikki Field. 

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The second most expensive home to enter contract last week was the townhouse at 14 East 81st Street, with an asking price just under $20 million, down from $22 million when it first listed in August. 

The six-bedroom, eight-bathroom limestone house’s five stories are connected by an elevator. The 20-foot-wide home also has three fireplaces, a garden on the ground floor and a terrace off the third floor. Annual real estate taxes are $150,000.

The listing was a co-exclusive between Adam Modlin of Modlin Group and Douglas Elliman’s Lauren Muss. 

Of the 27 homes to go into contract, 16 were condos, six were co-ops, four were townhouses and one was a cond-op. 

The homes’ combined asking price was $237.5 million, which works out to an average price of $8.8 million and a median price of $7.4 million. The typical home received an 11 percent discount and spent 605 days on the market. 

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