Manhattan’s trophy market kicked off February with a hot week for signed deals.
Of the 36 contracts signed for homes asking at least $2 million last week, 13 were for properties priced at $10 million or higher, according to Olshan Realty. The total marks the most weekly contract signings for homes asking eight figures since October 2024.
A new condo at 1122 Madison Avenue from Legion Investment Group and Nahla Capital contributed four contracts for homes in that price tier last week alone, and has already sold half of its 26 units at an asking price of almost $4,300 per foot since launching sales off of floor plans less than a month ago.
In total, there were 22 deals signed for condos, seven for co-ops and six for townhouses, along with one for a condop for a total contract volume of over $370 million. The week prior saw 33 contracts signed for almost $313 million.
The top contract last week went to two 78th-floor units at 432 Park Avenue.
The units had been at the center of a lawsuit between the building’s sponsor, CIM Group, and is developer, Harry Macklowe. A buyer agreed to pay $53 million for units 78A and 78B, which combine to span the entire 78th floor, two sources familiar with the deal told The Real Deal. Macklowe lost the properties last year after defaulting on the loans he had taken out from CIM to purchase the condos.
Spanning 8,300 square feet, the 78th floor is divided into two units that can be combined, or maintained separately.
Serhant’s Glenn Davis and Nicholas Compagnone had the listing.
The second priciest contract went to Unit 4N at 140 Jane Street, which was asking $27 million, up from its original price of $21 million.
Spanning almost 4,600 square feet, the condo includes four bedrooms and four full bathrooms. The home also includes a stone-floored room with sliding glass doors that open onto a Juliet balcony.
The primary suite features two dressing rooms and a great room with nearly 10-foot ceilings has views of the Hudson River.
A Corcoran Sunshine team, led by Tara King-Brown, is heading sales at the Aurora Capital Associates’ project. There is now only one unit left at the 14-unit development. The project inked a contract for a penthouse asking $87.5 million last year, which would be the most expensive condo sold downtown if it closes for that price.
Homes that went into contract last week had a median asking price of $7.4 million and an average discount of 5 percent.
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