Luxury real estate in Manhattan was ‘in tears in October’
Deals were made on more than $ 1.5 billion in high-end Manhattan residences last month, culminating in a contract signed with Paul McCartney’s Fifth Avenue Co-op.
Mr McCartney’s apartment was one of 47 contracts signed for homes priced at $ 4 million or more for the week ending Oct. 31, according to a report released Monday by Olshan Realty. This includes 31 condos, 10 co-ops and six townhouses for a total of $ 381.5 million in transactions.
Although three fewer homes were under contract last week compared to a week earlier, it was the 14th week of this year that saw 40 or more deals at that price, according to the report.
“The luxury market was in turmoil in October, racking up 184 contracts over the past four weeks at $ 4 million and more for a total of [more than] $ 1.54 billion in sales, ”said Donna Olshan, president of Olshan Realty, in the report.
Last week’s No.1 deal was the off-market sale of a duplex condo at Walker Tower on West 18th Street in Chelsea, according to the report. Fetching nearly $ 25 million, the 4,871-square-foot residence features four bedrooms, four and a half bathrooms, and two terraces. The building’s amenities include a rooftop terrace with cabanas, a library lounge, a fitness center with a yoga room, and porter and concierge services.
Daniel Stephen Hafner, CEO of travel site Kayak, bought the duplex in 2016 for $ 24 million. He had recently rented the unit, asking $ 55,000 per month.
The second-largest deal was a 12th-floor co-op with a list price of $ 22 million in San Remo on Central Park West, according to the report. It has a 30 foot living room, library and formal dining room, overlooking Central Park. The San Remo is one of the Upper West Side’s most famous co-op buildings, known for its Art Deco architecture and famous residents.
Mr. McCartney’s co-op at 1045 Fifth Avenue ranked 10th among the most expensive contracts signed last week. The triplex, which overlooks Central Park, was listed at $ 10.5 million. Mr. McCartney and his wife, Nancy, purchased the unit in 2015 for $ 15.5 million.