Coming off a Labor Day holiday, you don’t normally expect a banner week in sales. And last week was no exception--only14 contracts were signed at $4 million and above. What’s not so normal is that last week marked the 11th-straight week of sub-20 contracts signed, the weakest stretch since 2012.
The No. 1 contract was the Penthouse at 78 Irving Place, asking $20.9 million. This 4,420-square-foot triplex has 4 bedrooms and 5.5 bathrooms, plus a rooftop terrace with 903 square feet outfitted with a kitchen. Four apartments in this new 7-unit condo went to contract last week, and the building is now sold out. This gut-renovated building has a doorman but no other amenities.
The No. 2 contract was PHB at 305 East 51st Street, asking $11.75 million. The penthouse is being sold by the sponsor HFZ Capital, which bought out its equity partner CIM last month, paying $5,306,386 for PHB. This duplex penthouse has 4 bedrooms and 4.5 bathrooms, plus 2 terraces totaling 1,365 square feet. The unit has dramatic views that include the East River. It is in a new condo called the Halcyon, which has a robust package of amenities including doorman, concierge, garage and a 52-foot pool, plus a sun deck, sauna, fitness center, golf simulator, lounge/library, and bicycle storage.
East | West | Midtown | Downtown | Asking $/sq.ft. | Totals | |
---|---|---|---|---|---|---|
Co-ops | 2 | 0 | 0 | 0 | Avg.Ask: $4,547,500 |
2 |
Condos | 1 | 1 | 2 | 7 | Avg.Ask: $8,814,091 Avg.$/sq.ft.: $3,164/sq.ft. Avg.Size: 2,786 sq.ft. |
11 |
Condops * | 1 | 0 | 0 | 0 | Avg.Ask: $4,995,000 Avg.$/sq.ft.: $3,027/sq.ft. Avg.Size: 1,650 sq.ft. |
1 |
Townhouses | 0 | 0 | 0 | 0 | Avg.Ask: Avg.$/sq.ft.: . Avg.Size: |
0 |
TOTALS | 4 | 1 | 2 | 7 | 14 |
CLICK HERE TO VIEW 14 CONTRACTS SIGNED ON APARTMENTS
CLICK HERE TO VIEW 0 CONTRACTS SIGNED ON TOWNHOUSES
Donna Olshan President dso@olshan.com |
Emily Chen Private Wealth Real Estate Services Chief of Research ecc@olshan.com |