For the first time in a month, luxury home buyers in Manhattan signed fewer than 30 contracts in a week, according to the weekly Olshan Report released Monday.
Twenty-six homes went into contract in the week ending Sunday, a subtle dip after a month of strong sales activity for homes priced at $4 million or more, according to the report. Newly constructed and renovated homes had a particularly good week, with nearly half of the transactions involving sponsors or developers.
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That included the top contract, a $25 million five-bedroom condo at 737 Park Avenue, which Macklowe Properties has converted to a condominium from a rental building, according to the report. Macklowe sold the 6,000-square-foot unit for $2 million less than the company originally listed it for in 2013.
Yet the total volume of $199.5 million last week was strong despite the downtick in the number of transactions.
The second-most expensive home to find a buyer last week was a 20-foot-wide townhouse on East 79th Street, asking $19.44 million. It was also sold by a developer, who bought the six-bedroom, four-and-a-half bathrooms home for $7.45 million in 2002 and renovated it. The townhouse has seven fireplaces and an elevator.
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Also in a sign of the warm season, more than a quarter of the transactions last week included private terraces or other outdoor spaces, the report said.
For example, the No. 2 contract has a three-tiered, landscaped garden that has featured in several garden tours.
Ritzy rentals on the rise in Manhattan https://t.co/HsAr9E2MBS pic.twitter.com/1ZN4JwJTPs — Mansion Global (@MansionGlobal) June 10, 2017