A snowstorm in the Northeast quite literally cooled the luxury housing market in Manhattan last week.
Only 12 units priced at $4 million or more went into contract in the borough due to the "bomb cyclone" and frigid temperatures, according to the weekly Olshan Report released Monday. It was the worst start of the year for the price tier since 2012, according to the report.
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Total sales volume was a paltry $77.885 million, half the volume logged last week despite there being only 11 contracts signed, according to the report.
The most expensive home to find a buyer last week was a fifth-floor unit at 10 Madison Square West in the Flatiron District, asking $10.5 million. The nearly 2,871-square-foot corner unit has three bedrooms and three-and-a-half bathrooms.
The seller closed on the new development unit only 20 months ago for $8.655 million. The building boasts 10,000 square feet of amenities, including a 50-foot lap pool.
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The No. 2 contract was a condo at a new development in the Upper West Side. The home at 1 West End Ave. was asking $8.95 million.
The unit spans 3,917 square feet, including four bedrooms and four-and-a-half bathrooms. The building offers a fitness center, 75-foot lap pool and 12,000 square feet of shared terraces and outdoor cabanas.