A wave of townhouse sales helped revive Manhattan’s stagnate luxury housing sector last week.
Twenty-three contracts were signed at $4 million and above during that period, representing the highest number since the first week in August, according to Olshan Realty’s latest snapshot of Manhattan’s luxury housing market, which has been struggling of late.
This was up from 18 contracts signed last week, and this week’s numbers included four townhouses, which broke three consecutive weeks of zero sales in this sub-market.
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The top contract was a brownstone at 311 West 90th St. on the Upper West Side, asking $12.25 million, reduced from $13.9 million when it went on the market toward the end of last year.
This six-story house, which last changed hands for for $3.5 million in 2012, has been gut renovated and now has 6,550 square feet of space, including five bedrooms, five bathrooms, three powder rooms, an elevator, a 1000-bottle wine cellar, a landscaped garden and two terraces.
In second place was unit 16 at 221 West 77th St., also on the Upper West Side, asking $10.35 million. This five-bedroom condo has 3,300 square feet, including a 110-square-foot terrace off the living room.
More:Manhattan Prices Close to Record High Amid Signs of a Cooling Market
According to Olshan, the new condo building opened for sale in September 2015, and is reporting 16 out of 26 units in contract.
Number of sales last week by property type:
| Property type | Number of sales |
|---|---|
| Condos | 17 |
| Co-ops | 2 |
| Townhouses | 4 |
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