While most commentators point toward a slowing luxury housing market in Manhattan amid a flood of high-end condos, when demand is weakening, the $10-million plus market was revitalized last week.
Ten properties changed hands for $10 million or more, according to Olshan Realty’s latest snapshot of Manhattan’s luxury housing market released Monday. This was the highest weekly number of sales achieved in that price bracket all year.
Overall, 24 contracts were signed at $4 million and above last week, one higher than the previous week and the most recorded since the first week of August. Of the 24 homes sold, 18 were condos, four were co-ops and one was a townhouse.
More:Manhattan Sees Highest Number of Luxe Sales In Close to Three Months
The median asking price for the 24 contracts was $7 million, while the average discount from original ask to last asking price was 2%. The average number of days a property spent on the market, meanwhile, was 442.
Topping the list were two apartments that were purchased to be combined at 443 Greenwich St. in the West Village, asking $14.4 million, and $14.15 million respectively. Each apartment has 4,241 square feet with four bedrooms and four-and-a-half bathrooms.
The building, which was a factory in the 1880s, has been converted into a 53-unit condo by Metro Loft Management. Amenities include a lap pool, fitness center, a garage with valet parking, wine cellars and a roof deck.
The No. 2 contract was an apartment at 145 West 11th St., also in the West Village, asking $17.25 million. This was up from $16.75 million when it was first offered for sale off of floor plans.
More:Manhattan’s Jenga Tower Tops List of Most Expensive Sales
The condo, in a newly finished condominium called The Greenwich Lane, has 4,513 square feet with four bedrooms and four-and-a-half bathrooms. Of the 194 condos and five townhouses in the development, five apartments and one townhouse are left, priced north of $3,500/square foot, according to Olshan.
| W/c Oct. 31 | |
|---|---|
| Median asking price | $7 million |
| Average days on the market | 442 |
| Average discount from original ask to last asking price | 2% |
Source: Olshan