$65 Million Deal Brightens Sluggish Month for Manhattan Luxurious … – Mansion International

Manhattan’s luxurious residence market noticed one other lackluster week except for a single contract signed for a budget-blowing $65 million, based on a weekly report Monday from Olshan Realty.

Houses priced at $four million or extra traded palms at a slower fee for your complete month of July. The week ending Sunday provided no respite from the lull, with solely 17 luxurious contracts signed; that tally hasn’t cracked 20 in 5 weeks.

Extra: Stay on Top of News From the New York City Market

The only standout from final week was a penthouse at 70 Sacristy St.—an ultra-luxurious, 14-story constructing in Tribeca by starchitect Robert A.M. Stern—promoting for $65 million, one of many prime 10 costliest houses available on the market in New York Metropolis.

The rental has 7,800 sq. ft, 5 bedrooms, six loos and outside terrace area that provides roughly one other three,700 sq. ft. The customer may also get entry to swanky constructing facilities that embrace three swimming pools, together with a separate youngsters’s pool, squash courts and a library.

At $65 million, the unit is poised to set a report for downtown Manhattan. Till now the costliest residence to promote in that a part of the island was a penthouse at Walker Tower, situated at 212 West 18th St., which closed for $50.9 million in January 2014.

Extra: Penthouse South at 70 Vestry Coming on Market for $65M

Final week was fairly sluggish when it comes to gross sales quantity. Contracts signed totaled $163.29 million—one-third of which was the 70 Sacristy contract. The median worth was simply $5.5 million.

The second costliest contract was a $10 million, three-bedroom unit at 11 East 68th St.

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