Activity remains strong in Manhattan’s luxury market, but the sponsor unit listed by Related Companies that led the pack still had to settle for a 50 percent discount off its initial asking.
Thirty-one units went into contract last week, the same as the previous period, according to Olshan Realty’s report of homes in the borough asking $4 million or more.
The most expensive unit to enter contract was Unit 8401 at 35 Hudson Yards. The 4,600-square-foot unit had an asking price of $13.8 million, down from $27.2 million in 2019.
The sponsor unit has five bedrooms and 5.5 bathrooms, along with 11-foot ceilings and views of the Hudson River.
Amenities at the building include a fitness center, golf simulator, screening room, dining room and a residents’ lounge with a terrace.
The second most expensive home to enter contract last week was a 5-story brownstone at 141 East 18th Street, with an asking price of $11.7 million.
The 14.8-foot-wide townhouse was bought for $5.8 million in 2015 and renovated by architect Steven Harris. The home, which does not have an elevator, was listed in May.
It spans nearly 3,200 square feet and has a one-bedroom unit on the ground floor and three bedrooms on the floors above. Annual real estate taxes total $43,000.
Of the 31 units that went into contract last week, 19 were condos, 10 were co-ops and two were townhouses.
The homes’ combined asking price was $207.9 million, which works out to an average asking price of $6.7 million and a median asking of $5.7 million. The typical home received a 9 percent discount — up 2 percent from the previous week — and spent an average of 586 days on the market.
Activity in Manhattan’s luxury market has recovered after a mid-May slump. The market also recently saw a week in which no contracts went out for townhouses after the property type had a historically strong week in April and hot start to May.
Read more
