After a slow summer, luxury residential sales in Manhattan have bounced back this fall.
According to the latest Luxury Market Report by Olshan Realty, released Monday, 20 contracts valued at least $4 million were signed between Sept.26 and Oct. 2.This is the first time that the 20-contract benchmark has been reached in eight weeks.
“Autumn in New York is getting off to a good start,” said Donna Olshan, president of Olshan Realty, in the report.
The No. 1 contract was unit 65B at One57, located at 157 West 57th St., which had an asking price of $28.3 million. The 4,193-square-foot condo has 3 bedrooms, 3.5 bathrooms, 11-foot ceilings, and views of Central Park from the living room and master suite. This is the second time in the last four weeks the building had the No. 1 apartment contract in the city.
Architect Christian de Portzamparc, who won the Pritzker Prize in 1994, designed the 90-story, 90-unit building. The residence is located above the five-star Park Hyatt Hotel, and residents have access to the hotel services, as well as a fitness center, pool, library lounge, private dining, performance space and a garage.
The second-most expensive property was a townhouse on the Upper West Side, located 153 West 82nd St. It was priced at $9.850 million, reduced from $10.225 million when it was listed this past March. The 4,200 square foot, 17-foot wide, 5-story home underwent a full renovation after being purchased for $3.2 million in 2010. The home has 5 bedrooms, 4.5 bathrooms, and includes a gym, playroom, garden and many terraces.
There were five co-op contracts, 13 condo contracts, zero condop contracts and two townhouse contracts. The average asking price was $7,392,388, and the average discount from the original asking price was 4%. The average number of days on the market was 275.
“I do not expect the luxury market to perform particularly well in the first two weeks of October with the Jewish high holidays and Columbus Day,” Olshan said. "The one number I look at is the number of weekly contracts signed at $4 million and above. If we go below 20 contracts and it’s not a holiday or summer months, then it’s a worrisome sign.“
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