Thirty-six contracts were signed last week at $4 million and above, extending the luxury market’s streak of 30 or more deals to 5 weeks in a row.
Stat Geek Alert I: In the last 11 weeks, 297 contracts were signed at $4 million and above totaling over $2.5 billion in volume. The breakdown: 208 condos, 47 co-ops, 3 condops, and 39 townhouses.
Stat Geek Alert II: In the last 11 weeks, 56% of condos were sold by developers.
The No. 1 contract --as reported by The Wall Street Journal-- is a townhouse at 9 East 71st Street, asking $65 million, reduced from $88 million when it was listed in July. The 7-story, 50-foot-wide limestone mansion has 28,000 square feet, and is one of the largest private residences in New York. It is the former home of the late Jeffrey Epstein, the financier who committed suicide in a New York jail in August 2019, while being held on charges of sex trafficking.
The Wall Street Journal also reported that the contract was approximately $50 million, which translates to $1,786/sq.ft.
The No. 2 contract was PHC at 7 Hubert Street, asking $17.85 million, reduced from $18.5 million when it came on the market in August. The condo has 4,262 square feet including a 36-foot great room, 2 bedrooms, a library, formal dining room, an eat-in kitchen, and 3 fireplaces. A terrace surrounds the apartment. The seller was philanthropist Courtney Ross, who paid $11.5 million in January 2010. Ross founded the Ross School in Easthampton in 1991.