The fortunes of Manhattan’s struggling luxury home sector have turned around in recent weeks, with contracts signed on 37 properties valued at least $4 million and up last week, for a total asking price of $371.6 million.
According to Olshan Realty’s weekly health check of Manhattan’s luxury $4 million-plus property market released Monday, this was the second best week of 2016 in terms of quantity and the No. 1 week for dollar volume.
During the previous week, 16 contracts were signed, which led to the second-best Thanksgiving week since Olshan started tracking the sector in 2006.
The No.1 contract last week was a penthouse in the Mandarin Oriental private residences, located at 80 Columbus Circle on the Upper West Side. The asking price for 77B was $50 million, but sources told Olshan that it sold for significantly below the asking price. The price will be made public once the sale closes.
The 4,825 square-foot, four-bedroom penthouse with views of Central Park, which has been on the market since February 2012, last changed hands for $17.25 million in 2006.
Residents of the building’s private condos atop of the Mandarin Oriental have access to all hotel amenities, including housekeeping, spa treatments, a fitness center, a 75-foot indoor infinity pool and valet service.
The No. 2 contract was a penthouse at the Robert A.M. Stern-designed 30 Park Place in TriBeCa, asking $26.19 million. This unit has 5,443 square feet, including four bedrooms, four-and-a-half bathrooms, and two terraces.
PH81 is one of the 157 condos that sit atop the Four Seasons Hotel, which opened in October and sits on the bottom 22 floors of the building. At 937 feet and 82 floors, the building is one of the tallest residential towers in lower Manhattan.
According to Olshan, 30 Park Place’s sales office reported eight contracts last week. This included the sale of three apartments on the 74th floor to one buyer who paid a total of $26.16 million for 8,113 square feet.
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