Manhattan’s luxury real estate market is continuing its steady summer pace, powered by downtown deals, according to the latest Olshan report released Monday.
The week ending Sunday saw 24 contracts signed on luxury properties—defined as homes priced at $4 million and above— including eight properties that sold at asking prices of $10 million or more, the report said. More than half of the deals were downtown.
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It marked the 20th consecutive week with more than 20 luxury contracts signed in the borough.
The total sales value of the 24 contracts was $221.83 million, making the average asking price $9.24 million.
The most expensive contract signed was for a penthouse at The Plaza, at 1 Central Park South. The condo asked $33.95 million, a $1 million discount from when it hit the market last September. The three-bedroom duplex spans 3,947 square feet and has a terrace, a 40-foot living room with a fireplace and stellar views of Central Park.
The penthouse is being sold by Juan Beckmann Vidal, a Mexican billionaire and majority owner of tequila maker José Cuervo. Mr. Beckmann Vidal, 78, and his wife, paid $22.54 million for the home in 2008 via a limited liability company, according to public records and reports.
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The second priciest deal last week was for a full-floor co-op at 810 Fifth Ave., on the Upper East Side. The apartment was asking $22 million, reduced from $24 million when it hit the market in March. The residence has a formal dining room, an eat-in-kitchen with a butler's pantry, a library and a staff room.
Of the 24 contracts signed last week, 14 were condos, five were co-ops and five were townhouses; no luxury condops entered contract last week.