October 17-23, 2016
Eighteen contracts were signed last week at $4 million and above. A couple of notes: For the third week in a row, not a single townhouse has reported a signed contract at $4 million and above, a rare occurrence in the Manhattan luxury residential market. Plus, the top two deals were in Downtown condos, both designed by the Pritzker Prize-winning architects Herzog & de Meuron.

The No. 1 contract was PH58 at 56 Leonard Street, asking $34.5 million, increased from $25.5 million when it went on the market in 2013 and was being sold off of floorplans. This is one of the last remaining units being sold by the sponsor. 56 Leonard originally went on the market in 2008 and closed up shop when the financial crisis hit. Sales resumed in 2013 at a brisk pace. The building is a 60-story, 145-unit condo built like a glass obelisk. ...


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