The former home of the late financier and convicted sex offender in the Upper East Side, Jeffrey Epstein, was the highest housing contract in Manhattan last week.
The deal was one of 36 luxury contracts – demanding $ 4 million or more – signed in the first week of March, according to Olshan Realty. message. This is the fifth week in a row that 30 or more luxury stores have been filled.
Report author Donna Olshan said that the pace of the market is almost at the same level 2015 level, with several important reservations.
“The big difference is that the discounts are three times bigger and the marketing time is three times bigger,” she explained. “Lots of [the volume] has to do with discounts. “
Among last week’s contracts, properties were listed for an average of 551 days, and the average discount from the original to the final asking price for contracts was 12 percent.
The Epstein property is an excellent example: A contract was reached with a asking price of $ 65 million under $ 88 million was released last summer. The intermediaries at that time described the initial query as “aggressive“Given the timing and dated aesthetics of the property (including much of Epstein’s furniture), which would probably prompt the buyer to renovate.
The Wall Street Journal reported last week, the final sale price is close to $ 50 million.
The second most expensive contract signed last week had a slight discount.
Philanthropist Courtney Ross filed her shelter on Hubert Street 7 in August for $ 18.5 million; signed a contract and demanded slightly less than $ 17.85 million. Ross, widow of the late Warner Communications CEO Steve Ross, bought the apartment in 2010 for $ 11.5 million.
Twenty-three of last week’s deals concerned apartments and continued the trend that began in the last quarter of 2020, when sales of new development apartments accelerated. In the last 11 weeks, 70 percent of the 297 luxury contracts signed were condoms; 56 percent of these 208 apartments were sold to developers at Olshana.