February is proving to be a prosperous month for Manhattan’s luxury property market.
Twenty-nine contracts were signed last week at $4 million and above, according to Monday’s Olshan Report, the fourth straight week that has logged more than 20 luxury transactions.
Condominiums accounted for 22 of the units that went into contract and 18 of those were sold by developers, the report said. Deals were also made on five Upper East Side co-ops and two townhouses, making for a total sales volume of $204.794 million.
The most expensive contract of the week occurred on the Upper East Side, on the seventh floor of an Emery Roth-designed building at 993 Fifth Ave. The 12-room co-op—opposite the Metropolitan Museum of Art—was asking $17 million, reduced from $24.9 million when it was first listed in May 2017.
The second priciest was a triplex penthouse at 250 West 81st St. The under-construction, 18-story building anticipates occupancy in early 2019, according to listings, and will have amenities including a fitness center, a children’s playroom and music recording studio.
The median asking price for luxury properties that entered contract last week was $5.25 million and they spent an average of 377 days on the market before finding buyers.
During the previous week, 37 contracts were signed on luxury Manhattan real estate, the most transactions since mid-May, according to the weekly real estate report.
Follow Mansion Global:Facebook | Twitter | Instagram | LinkedIn | Messenger
Write to us: email@example.com