A "bomb cyclone" weather event that swept through the Northeast failed to dampen Manhattan’s luxury real estate market last week, according to Monday’s Olshan Report.
There were 27 contracts signed for homes prices at $4 million or more in the week ending Sunday, in spite of the bad weather, according to the weekly report by Olshan Realty. It marks the fourth week of strong sales in the borough following a typically sleepy start to the new year. Last week there were 29 contracts signed.
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Luxury contracts added up to $237.9 million in transactions, up 16% over last week, according to the report.
The most expensive home to go into contract last week was the 94th floor penthouse at 432 Park Avenue, asking $40.5 million.
"When the contract was reported, what immediately came to mind, other than the lofty price, was how breathtaking it must have seemed up there with the bomb cyclone whipping through Manhattan," wrote Donna Olshan in the report.
The corner unit spans roughly 4,000 square feet and has three bedrooms and three-and-a-half bathrooms. Penthouses in the supertall residential tower boast 12-foot-plus ceilings and windows measuring 10 feet by 10 feet.
The building is now 85% sold, according the Olshan Report.
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The second most expensive home to sell last week was a townhouse on the Upper East Side, asking $17.5 million. It was a relatively rapid sale for a townhouse of that price—it was only listed in January.
The 25-foot-wide limestone home spans around 9,000 square feet that were subdivided into eight units.