Eleven contracts were signed last week at $4 million and above, one more than in the same week last year.
Stat Geek Alert: In the past 11 weeks starting June 22, when New York State lifted the shutdown on showing properties, 103 contracts have been signed at $4 million and above totaling $794,862,000. In the same 11-week period last year, 153 contracts were signed totaling $1,157,473,000.
The No. 1 contract was PH11A at 90 Morton Street, asking $33 million. The duplex condo originally went under contract in January 2019, but the buyer walked away from the deal once the pandemic hit. The unit has 5,254 square feet including 5 bedrooms, 5.5 bathrooms, and a terrace totaling 2,023 square feet. By August, the onsite listing broker, Shlomi Reuveni of Reuveni Real Estate, started to see increased activity, and a new buyer from New York, represented by Eric Brown of Compass, stepped in. “I have had back-to-back appointments in the building in the last 3 weeks,” said Reuveni, who has sold 3 units since August. “They are affluent, mostly local buyers and some are bi-coastal. Everyone may be talking about how bad the city is, but there is a strong demand from buyers who have trust and faith in the future.” He added, “The bicoastal buyer has business and strong connections to the city. They don’t want to live in a hotel. I am getting people from LA and from Atlanta, but the majority of the buyers I am seeing are local--either they live downtown or are uptown looking downtown.”
Reuveni scored again to grab the No. 2 spot, also at 90 Morton, unit TH, asking $9.45 million. The unit is a mezzanine floor with 2 entries--a private entrance on Greenwich Street and one that leads into the building. It has 3,537 square feet including 4 bedrooms, 3.5 bathrooms, and 12-foot ceilings. A terrace totaling 631 square feet wraps around the bedrooms. Reuveni said that the buyers were New Yorkers and represented by Holly Parker and Jamie Gagliano of Douglas Elliman.
90 Morton is a former printing plant that was converted to a 12-story, 28-unit condo that started offering apartments off of floorplans in Fall 2017. Amenities include a concierge, a covered driveway, a fitness center, a 64-foot pool, residents’ lounge, children’s playroom, and a rooftop terrace with an outdoor kitchen.