Manhattan's luxury housing market recorded 26 deals for $4 million or more, a disappointing number for what is supposed to be a busy spring buying season, according to Olshan Realty's Monday weekly report.
This is 4 fewer transactions compared to the previous week. Condo sales outpaced his 17-to-3 co-op, with two condos and his four townhouses also under contract.
It was a good week for new unit sales, although it wasn't a standout week for the luxury goods market as a whole, as sales activity tends to increase in the spring.
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“The week was dominated by sponsors, with half of the deals signed in new buildings,” said Donna Olshan, president of Olshan Realty and author of the report.
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This week's most expensive deal is certainly for a new condo at 432 Park Avenue, which was listed in 2015 and is one of the last sponsored units sold in the 96-story building. The condo was asking $12.4 million, reduced from its original listing price of $18.25 million.
The unit measures 4,003 square feet and has 3 bedrooms, 4 bathrooms, and a powder room. The home has 12.5-foot ceilings and an 8-foot-by-8-foot corner living room with sweeping views of the city.
The second-highest deal closed last week was for a West Village townhouse for $10 million, which was listed in December for $12 million. Located on West 11th Street, this home has three floors and 3,340 square feet of living space. This home is in need of a complete renovation and is being sold with plans to expand the home to 5,451 square feet with four bedrooms and five and a half bathrooms.
