Contracts for Manhattan’s Luxury Real Estate Drop as Market Continues to Fluctuate

Manhattan’s luxury real estate buyers have been on-again, off-again this fall, with the number of deals up one week and down the next.

There were 17 contracts signed for $4 million or more in the week ending Sunday—seven fewer than the previous week, according to Monday’s report from Olshan Realty. Deals were made for 12 condos and five co-ops, with no townhouses in the mix last week.

Total sales were $172.5 million, with the median price a hair under $6 million, the report said.

Despite fewer deals, the No. 1 contract signed last week was a doozy: a sponsor unit asking $66 million at Central Park Tower on West 57th Street, otherwise known as Billionaire’s Row, according to the report. The residence is just over 7,000 square feet and encompasses the entire 124th floor.

The home includes five bedrooms, five and a half bathrooms, and a 50-foot living room “with windows on three sides that offer sweeping views of Central Park and the city,” Donna Olshan, president of Olshan Realty, wrote in the report.

Central Park Tower, the world’s tallest residential skyscraper at 1,550 feet and 131 stories, offers amenities such as a club room with a ballroom, bar and cigar lounge, indoor and outdoor pools and a fitness center, the report said. So far this year, 29 units have been sold in the building, with an average price of $5,132 per square foot.

Last week’s second biggest deal was a triplex penthouse on Bond Street in NoHo listed for $17.5 million, according to the report. The three-bedroom, three-and-a-half bathroom home was first listed in 2015 for $21.75 million, and includes more than 900 feet of outdoor space, including a roof deck with an outdoor kitchen.

The buyer was from Texas and works in tech, the report said.


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