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The Manhattan luxury real estate market saw fifty deals signed in just seven days, totaling $484 million in sales, the highest dollar volume in a single week since 2013.
This is the third time this year that the number of deals signed for luxury homes or flats in Manhattan has reached fifty or more according to the Olshan Report, which tracks Manhattan real estate market activity for properties with a value of $4 million or more, thus considered as “luxury”.
Prior to this week’s record high, the highest weekly volume in terms of combined asking prices was $576 million, a figure reached at the end of 2013, the report said.
“Almost half a billion dollars a week is fantastic by anyone’s standards,” said Donna Olshan, author of the report.
The most expensive property to sell this week was a nearly 830-square-foot triplex at 443 Greenwich Street. It is a three-level condominium with a terrace, six bedrooms and a lift, estimated at $49.5 million. The sale was completed for just under $44 million.
The second most expensive deal was for $26 million for a three-bedroom property overlooking Central Park.
For the fifty transactions last week, the median price was just over $7 million. The gap between initial demand and final sale was about 5%. Buyers preferred condominiums to co-op units.
Read also > REAL ESTATE : RECORD SALES OF EXCEPTIONAL PROPERTIES IN MANHATTAN IN AUGUST
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The Manhattan luxury real estate market saw fifty deals signed in just seven days, totaling $484 million in sales, the highest dollar volume in a single week since 2013.
This is the third time this year that the number of deals signed for luxury homes or flats in Manhattan has reached fifty or more according to the Olshan Report, which tracks Manhattan real estate market activity for properties with a value of $4 million or more, thus considered as “luxury”.
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The Manhattan luxury real estate market saw fifty deals signed in just seven days, totaling $484 million in sales, the highest dollar volume in a single week since 2013.
This is the third time this year that the number of deals signed for luxury homes or flats in Manhattan has reached fifty or more according to the Olshan Report, which tracks Manhattan real estate market activity for properties with a value of $4 million or more, thus considered as “luxury”.
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