LUXURY MARKET REPORT 2019
Report on Contracts Signed
Manhattan Residential Properties
$4 Million and Above
September 23-29, 2019
18 Contracts Signed
Eighteen contracts were signed last week at $4 million and above. Condos outsold co-ops, 9 to 6, with 3 townhouses in the mix. Prices were reduced on average by 16% off the original asking price before a contract was signed. Properties spent an average of 564 days on the market.
Stat Geek Alert: Last week marked the best performance by co-ops since the week of June 24, when 6 co-ops were also sold.
The No.1 contract was 8A at 155 West 11th Street, asking $19.8 million--it sold in only 60 days. The 3-bedroom, 3.5-bathroom unit has 3,965 square feet and outdoor space totaling 1,264 square feet. It is owned by Tamara Mellon, fashion designer and co-founder of Jimmy Choo luxury shoes, who purchased the unit for $18,355,982 from the sponsor in September 2016. The condo is known as The Greenwich Lane, a 5-building complex comprised of 193 apartments and 5 townhouses. Amenities include a concierge, doorman, parking, fitness center, a 25-meter swimming pool, golf simulator, garden, residents’ lounge, and children’s playroom.
The No. 2 contract was a 6-story brick townhouse at 49 East 67th Street, asking $13.475 million, reduced from $24 million when it went on the market in October 2015. This 20-foot-wide house has 8,926 square feet including 6 bedrooms, 5 bathrooms, and 2 powder rooms, The house also has a 50-foot swimming pool in the basement and an elevator. It was owned by pop star Billy Joel from 1981 to 1991.