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.
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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.
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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.