LUXURY MARKET REPORT 2019
Report on Contracts Signed
NYC Residential Properties
$4 Million and Above
January 28-February 3, 2019
15 Contracts Signed
Fifteen contracts were signed last week at $4 million and above, which is the lowest total as we swing into February since 2010, when 15 contracts were also signed. Things could always be worse: In the same week in 2009, with the country in the grip of the Great Recession, only 1 contract was signed.
The No.1 contract was a townhouse at 3 East 89th Street, asking $27 million, reduced from $29.5 million when it went on the market in March 2017. This 40-foot-wide, 6-story limestone building has 13,956 square feet, and is being sold by the National Academy Museum. The house has 7 bedrooms and 7 bathrooms with many original details, like a sweeping marble staircase with wrought-iron railings and French doors. It is in need of a complete renovation that could span years and cost millions.
The No. 2 contract was a townhouse at 49 East 68th Street, asking $23 million, Listed last April, this red brick and limestone 6-story house is 25-feet wide and has 10,250 square feet. It was purchased for $20.4 million in November 2017. The interior was then gutted, and is now being delivered as a raw box with a set of approved plans by the NYC Department of Buildings. At one time, it was the home of Mitch Leigh, the Tony Award-winning composer of Man of La Mancha.