A $25 million townhouse in the West Village led luxury sales in Manhattan last week
A townhouse on West 11th Street with an asking price of $25 million has been from manhattan most expensive contract signed during the week of July 4, according to the luxury market report published Monday by Olshan Realty.
The four-story, six-bedroom townhouse had been recently remodeled, with nearly 2,500 square feet of outdoor space, including a garden with a gazebo and hot tub.
A total of 19 contracts were signed for properties over $4 million from July 4-10, according to the report. That number was seven fewer than the previous week, but an above-average number for the short holiday week.
“The decline in contract counts is to be expected, given the shortened July 4 week,” Olshan Realty President Donna Olshan wrote in the report. “In fact, the 10-year average of contracts signed at $4 million and above during the week of July 4 is 18 contracts.”
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Total weekly sales volume at the asking price for the week was $143.4 million, with a median asking price of $6.96 million.
For deals closed last week, the average discount from the original asking price was 6%, and the week’s second most expensive deal, a $13.9 million unit at 740 Park Avenue, was initially listed. at $19.5 million. The identity of the buyer has not yet been released, but it is likely that he paid cash for the five-bedroom duplex co-op, according to the report.
“The building does not allow funding, and major renovations can only be done between May 15 and September 15,” Ms. Olshan noted.