Manhattan’s luxury real estate market has just seen one of its best weeks of the year, according to Monday’s Olshan Report.
Twenty-nine contracts were signed last week for at least $4 million—Olshan’s benchmark for luxury—making it one of the borough’s strongest weeks of the year, and the seventh consecutive week with more than 20 luxury transactions, for a total sales volume of $229.67 million.
As usual, condos outsold co-ops, with last week’s transaction totals 17 and 10 respectively, marking “the highest number of co-op sales since the last week in March, when 14 co-ops went to contract,” Donna Olshan wrote in the report. Two townhouses, both on the Upper East Side, also sold.
The most expensive home to find a buyer was a combination of two adjoining units sold by two different owners to one buyer in the Superior Ink Condominium at 400 West 12th St. The units were asking $36.35 million for a total of 7,777 square feet, the report said.
The second most expensive was a four-bedroom condo at the celebrity-laden 443 Greenwich St., asking $13.8 million. The building, a former factory built in the 1880s, is well known for its celebrity owners including Jennifer Lawrence and Ryan Reynolds and his wife Blake Lively.
The average asking price was $7.919 million and properties spent an average of 465 days on the market.
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