There were 34 contracts signed on homes asking $4 million or more last week
Coinciding with last week’s “worrisome stock market performance,” the luxury real estate market in Manhattan logged its slowest week of the past two months, according to Olshan Realty’s weekly market roundup on Monday.
There were 34 contracts signed on homes asking $4 million or more in the New York City borough during the week ending Sunday, a drop-off from 37 the week prior, and a year-to-date record of 67 contracts during the seven-day stretch before that.
Though the lowest figure in nine weeks, it’s too soon to tell if the stock market slump—triggered by the detection of the Omicron coronavirus variant on U.S. soil—had any impact on the total, the report said.
“Many investors predict a turbulent stock market ahead, and we will have to wait and see if this reverberates through the luxury real estate market,” wrote Donna Olshan, president of Olshan Realty and the report’s author.
The 34 deals made last week were worth $264.8 million.
The priciest contract signed last week was on a full-floor unit at the slender supertall on Billionaires’ Row, 111 West 57th St. Asking $21.5 million, the almost 4,500-square-foot condo has three bedrooms, and served as a model residence within the building and was designed by AD 100 designer Kelly Behun, Mansion Global reported.
The buyers bought the unit fully furnished.
The second-most expensive deal made was on a duplex penthouse at Rose Hill, a new development 30 East 29th St. The condo, asking $20 million, has four bedrooms, three terraces and spans 4,657 square feet.