Photo: Spiro Vathis/Flickr
Not even a healthy dose of Thanksgiving tryptophan or second helpings of leftovers could keep some Manhattan homebuyers from landing a new luxury pad last week. The number of luxury contracts signed during Thanksgiving week recorded its second highest total in the last 10 years, according to new data from New York brokerage Olshan Realty.
Last week a total of 16 contracts were signed for homes priced at $4 million and above, or “luxury” homes. This was just one contract shy of the high of 17 contract signings recorded Thanksgiving week in 2014. Olshan Realty began weekly tracking of sales in 2006.
The median asking price last week was $5.7 million, while the average discount from the original asking price to last asking price was 8 percent. The total weeking asking price sales volume last week was $101.9 million and the average number of days on the market was 299.
Eleven of the contracts signed last week were for condos. Although the final sale prices were not available yet, the asking prices ranged from $4.2 million to $10.9 million for condos. There were four co-op contracts that ranged in asking price from $4 million to $5.6 million.
The remaining contract, which was also last week’s top deal, was for a townhome with a $14.5 million asking price.
The townhome, located at 21 East 37th Street, was a former home of famous financier J.P. Morgan. The four-story townhome boasts over 9,000 square feet. It last sold in 1997 for $1.6 million, according to the Olshan report.
Last week’s second most expensive contract was for a condo at 434 Greenwich Street. The 3,500 square foot condo features four-bedroom, four-bath and had a price tag of $10.9 million.
Click here to view the entire report.