Manhattan’s luxury real estate market is chugging along at a steady pace, said Donna Olshan in her eponymous Olshan Report on Monday.
There were 24 contracts signed last week at $4 million and above—the report’s benchmark for luxury—marking the 19th straight week with more than 20 contracts signed on prime properties in the borough.
Buyers were getting an average discount of 11% from the original asking price, the report said, while properties spent an average of 390 days on the market.
The priciest deal was for a full-floor co-op unit at 640 Park Ave., on the Upper East Side. The six-bedroom apartment was asking $21 million, reduced from the $25 million it was first listed for in February last year. It has 14 rooms, three fireplaces and overlooks Park Avenue.
The second most expensive contract signed was for a duplex condo at the newly developed 565 Broome SoHo, a Renzo Piano-designed building that has seen a luxury contract signed on one of its apartments in four out of the last five weeks.
From Penta: The Macallan Rolls Out US$65,000 Whiskey
The four-bedroom spread was asking $15.5 million and has a 2,200-square foot outdoor terrace with its own saltwater pool and outdoor shower.
For the first time in more than a year, not a single co-op or condo was sold on the Upper West Side, though one townhouse did go into contract, the report said.
Follow Mansion Global:Facebook | Twitter | Instagram | LinkedIn | Messenger
Write to us: firstname.lastname@example.org