Report: 3-Week Luxury Sales Streak Peters Out Only 15 $4M+ Properties Signed into Contract Last Week

Report: 3-Week Luxury Sales Streak Peters Out
Woolworth Building (

All streaks eventually come to an end, and New York City's luxury residential sales are no exception.

According to Olshan Realty's latest luxury market survey for the week of March 4-10, about 15 properties worth $4 million or more signed into contract, The Real Deal reported. That broke something of a sales streak for the last three weeks, during which 20 or more $4M+ properties went into contract per week.

The biggest contract for that week was a 6,095 square-foot condo in the famous Woolworth Building at 2 Park Place in Lower Manhattan, which signed for $21,325,000. Highlights of the four-bedroom/five-bathroom apartment include 14.5-foot ceilings, arched windows, an eat-in kitchen with Dada cabinetry, and a 75-foot-wide great room with triple exposure. The building's amenities include a fitness studio, a wine cellar, a pool, and on-site parking. According to the listing for the unit, “Originally commissioned by retail magnate F.W. Woolworth, architect Cass Gilbert's 792-foot tall neo-Gothic masterpiece continues to capture the imagination and grace the world's most famous skyline."

Coming in second is a six-bedroom/six-and-a-half-bathroom co-op at 960 Park Avenue that signed into contract for $14,500,000. Featured in this renovated Upper East Side apartment are a grand salon, Subzero and Viking kitchen appliances, a master sitting room with a built-in desk, and ebonized white oak floors, according to its description. Doorman service and a newly-refurbished gym grace the building, which was designed by James E.R. Carpenter in 1912.

A condo at 7 Hubert Street in Tribeca placed third on Olshan's list for that week, with a contract signed for the asking price of $13,495,000. Measuring 6,443 square feet, the four-bedroom/five-and-a-half bathroom apartment has a 32-foot-wide great room with 12-foot ceilings and a private parking garage. The building comes with a fitness room and an attended lobby,

Overall, according to Olshan, luxury condo units outsold co-ops 10 to five during last week. There were no contracts signed on townhouses. The average asking price was $7,884,467, while the median asking price was $5,495,000.

David Chiu is an associate editor at The Cooperator.

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