Activity in Manhattan’s luxury market remains strong, but sponsors of listings on bellwether Related Companies are still having to settle for 50 percent off their original asking price.
Thirty-one units signed contracts last week, Same as last issueaccording to a report by Olshan Realty, homes in the area are asking $4 million or more.
The most expensive unit under contract is the 8401 unit At 35 Hudson YardsThe asking price for the 4,600-square-foot unit is $13.8 million, down from $27.2 million in 2019.
The sponsor unit has five bedrooms and 5.5 bathrooms with 11-foot ceilings and views of the Hudson River.
Amenities in the building include a fitness center, golf simulator, screening room, restaurant and resident lounge with terrace.
The second most expensive home that came under contract last week was a five-story brownstone at 141 East 18th Street, with an asking price of $11.7 million.
Bought for $5.8 million in 2015, the 14.8-foot-wide townhouse was renovated by architect Steven Harris. This home has no elevator and was listed in May.
It’s nearly 3,200 square feet with a one-bedroom unit on the ground floor and three bedrooms upstairs. Total annual estate taxes are $43,000.
Of the 31 units that came under contract last week, 19 were condos, 10 were co-ops and two were townhomes.
The homes had a combined asking price of $207.9 million, with an average asking price of $6.7 million and a median asking price of $5.7 million. Typical family gets 9% off — Up 2% from the previous week – An average of 586 days on the market.
Activity in the Manhattan luxury market plunge in mid-mayThe market also recently saw a week without contracts for townhomes after the property type had a historically strong week in April and started May on fire.