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Manhattan Luxury Market Springs to Life

Mansion Global // Apr 17, 2018

Despite uncertainty whipping around Manhattan’s luxury market, it has had the best start to spring since the boom days of 2015, according to the Olshan Report Monday.

Well-heeled buyers signed contracts for 25 homes priced over $4 million in the week ending Sunday, according to Olshan Realty’s weekly report. It was the fourth straight week of solid sales activity following a sluggish first quarter.

Over the past four weeks, 104 transactions have totaled $849 million, the best first four weeks of spring since the luxury market’s peak three years ago.
“Spring has sprung, and the Manhattan luxury real estate market is blooming,” wrote Donna Olshan in Monday’s report.

The priciest home to find a buyer last week was the largest penthouse at the celebrity-favored 443 Greenwich St. in Tribeca, asking $58 million. The triplex condo in the converted factory building spans more than 8,500 square feet with an additional 3,600 square feet of outdoor terrace space.

The unit’s roof deck has a private splash pool and outdoor kitchen.

The building is a celebrity magnet, where residents include Jessica Biel and Justin Timberlake; Rebel Wilson; Ryan Reynolds and Blake Lively; and Meg Ryan, Mansion Global has previously reported.

The second most expensive home to find a buyer last week was one of two remaining units at 150 Wooster St., asking $14.75 million. The luxury condo development comprises only six full-floor units. This one has four bedrooms, four bathrooms and a nearly 2,000-square-foot terrace.

Original Article: Mansion Global