Price cuts for luxury listings priced at $4 million and above continued last week, according to Olshan's weekly market report.
The top condo signing went to a 4,545-square-foot spread at the SOM-designed Baccarat Hotel & Residences. The original asking price was $21.5 million, but it finally went into contract for $18.75 million after 388 days on the market. The owner paid $20.25 million for the four-bedroom pad in 2015.
In total, there were 24 luxury contracts signed and prices were lowered an average of 11% off their original asking price. Olshan said, "The increasing negotiability is the single biggest factor in motivating buyers off the sidelines, underscoring the fact that it all comes down to...price."
In total, there were 24 luxury contracts signed and prices were lowered an average of 11% off their original asking price. Olshan said, "The increasing negotiability is the single biggest factor in motivating buyers off the sidelines, underscoring the fact that it all comes down to...price."
Last Week's Top 5 In-Contract Listings:
In this article:
4 beds, 4.5 baths
| 4,545 square feet
Enjoy the ultimate lifestyle in Manhattan in one of the exclusive top floor condominium residences at the Baccarat Hotel & Residences, named one of the Best Hotels in the USA in 2017 by US News and World Report and included on Conde Nast's Gold List 2017. This magnificent 4 bedroom, 4 bath plus powder room home with 4,545 square feet features spectacular 360 degree views of the city, Central Park and architectural icons such as the Empire State Building, the Chrysler Building and the World Trade Center. Read more →
10 Available Listings from $3.595M
6+ beds, 6+ baths
| 11,455 square feet
Incredible opportunity to return this elegant 25 foot historic townhouse to its original grandeur. Built in 1876 by the Jardine Brothers, the house was completely redesigned in 1904 for Arthur Scribner by renowned architect Ernest Flagg. At that time, the beautiful limestone facade was added.
It was sold over 50 years ago and converted to a rental property. The current owner bought the house with 5 tenants in place. It is now vacant and the demolition portion of construction is completed. Read more →
6+ beds, 6+ baths
| 4,480 square feet
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Experience the discreet townhouse lifestyle with all of the conveniences and services of a full service condominium at 70 Bethune Street. Designed by Robert A. M. Stern, 70 Bethune, 28.5 foot wide with approximately 4,500 square feet including the basement is situated on a tree lined street in the coveted West Village. This 6 bedroom, 6.5 bathrooms townhouse at Superior Ink has an elevator which is a plus for vertical living. Read more →
2 Available Listings from $2.288M
3 beds, 4 baths
A prewar architectural masterpiece, originally built in 1924 by J.E.R. Carpenter, this sun-flooded spectacular southeast corner twelve into ten room residence was just completely renovated by The Renovated Home. The highest level of finishes were used throughout with every room having picturesque views and grand-scale perfect for entertaining. Read more →
1 Available Listing for $9.75M
3 beds, 4.5 baths
| 3,888 square feet
Penthouse A is the ultimate in modern Tribeca living with 3,888 square feet of vast interiors and 1,693 square feet of private outdoor space. Enter the entertaining floor, where floor-to-ceiling windows frame and fill the entire space with light. A wrap-around terrace with outdoor kitchen allows for seamless expansion from the south-facing living and dining areas through three separate French door entryways. Read more →
See the full list at Olshan Realty Inc. →
Would you like to tour any of these properties?
Just complete the info below.
Or call us at (212) 755-5544
Would you like to tour any of these properties?
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Sandra Herrera
Sandra Herrera is a writer, editor, and graphic designer based in Brooklyn, NY.
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