The “Bomb Cyclone” period of extreme weather may be behind us, but Manhattan’s luxury real estate market is still feeling the chill.
Only 12 contracts were signed for luxury properties—defined as those priced at $4 million and above—in Manhattan last week, according to Monday’s Olshan Report, for a total sales volume of a little over $119 million.
The figure is “a plunge from the same week last year, when 24 contracts were signed,” said Donna Olshan in the weekly report.
Though on the the bright side, Ms. Olshan said, the top two deals both came with asking prices north of $20 million.
The priciest contract was a townhouse at 1083 Fifth Ave., asking $29.5 million. The house was sold by the National Academy Museum and School, which originally listed it along with two adjacent properties, a townhouse at 3 East 89th St. and a school at 5-7 East 89th St.
The second most expensive home in contract was a condominium unit at 160 Leroy St., asking $21 million, up from the $19.5 million it was asking when it first hit the market in January of 2016. The apartment spans 4,557 square feet and has four bedrooms, a library and a 196-square-foot terrace. The buyer also purchased a one-bedroom unit on a different floor, asking $3.2 million, according to the report.
Of the 12 contracts signed, six were condos, four were co-ops and two were townhouses; no luxury condops sold last week.
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