Manhattan Luxury Contracts Close October
Manhattan’s luxury contracts slowed last week, but the market still pulled in a pricey peak.
Just 12 contracts were signed for homes asking $4 million or more, according to Olshan Realty’s weekly report of luxury units in the borough, seven fewer than the week prior. It’s the lowest total since late September, when volume fell to a three-year low as part of an extended post-Labor Day funk.
The most expensive home to enter contract last week was PH18EF at 115 Central Park West. The home asked just under $20 million, down from $25 million when it listed two years ago.
The five bedroom, 5.5 bathroom co-op has four terraces and a living room, library and two bedrooms that face Central Park. Amenities in the building, known as The Majestic, include a fitness center, a children’s playroom and a roof terrace with a solarium.
The second most expensive home to enter contract was 8 Perry Street, with an asking price of $19.5 million.
The three-story townhouse, which has been on and off the market for a year, is 22 feet wide. It spans 5,300 square feet and has five bedrooms and 5.5 bathrooms, as well as a 40-foot garden, but it does not have an elevator. The seller bought the home in 2019 for $12.6 million.
An honorable mention goes to the townhouse at 146 East 65th Street, which entered contract several weeks ago without being reported as signed. The property closed last week for $47 million, the top townhouse deal of the year.
The 40-foot-wide house spans 12,500 square feet and was once owned by the late David Rockefeller, whose estate sold the house in 2018 for $20 million. It was then renovated by architect Steven Harris. Annual real estate taxes are $118,000.
Of the 12 homes to enter contract last week, five were townhouses, four were co-ops and three were condos.
The homes’ combined asking price was $118.8 million, working out to an average of $9.9 million and a median asking price of $7 million. The typical home spent 377 days on the market and received a 13 percent discount.
