Penthouses asking $45 million and $39 million topped Manhattan luxury contracts during the week ending Nov. 17, according to Olshan Realty’s weekly luxury report. A total of 37 contracts were signed on properties priced $4 million and up.
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A penthouse owned by a Russian billionaire and a new development condo in the West Village led Manhattan’s luxury sales during the week ending Nov. 17, according to Olshan Realty’s weekly luxury market report.
The PH11 unit at 140 Jane Street was the priciest property to secure a buyer between Nov. 11 and Nov. 17, 2024, with an ask of $45 million.
A total of 37 contracts were signed in Manhattan at $4 million and above over the course of the week, which was just two contracts fewer than the previous week. Weekly luxury asking price sales volume hit $364.68 million, the largest the borough has seen since Dec. 20-26, 2021.
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The penthouse unit spans about 5,650 square feet and includes five bedrooms and five-and-a-half bathrooms. Living and dining areas feature 11-foot ceilings and Hudson River views. An expansive primary bedroom suite includes a private balcony, and stairs from the penthouse lead to a 1,697-square-foot terrace with a hot tub. The building’s amenities include a doorman, porte-cochere, automated parking garage, lounge, fitness room, lap pool and hot tub.
Sales at 140 Jane Street are being led by Corcoran Sunshine and Tara King-Brown. The project is expected to be completed next year.
The 14-unit building has been landing some solid sales in the last couple of months, with a $40 million sixth-floor unit finding a buyer at the end of October and a $23 million unit securing a buyer in September.
The second-most expensive property to go under contract was a penthouse at 15 Central Park West owned by Russian billionaire Valery Kogan, co-owner of Moscow’s Domodedovo Airport, and his wife, Olga Kogan. The property first listed for $65 million last year when it hit the market in April 2023, but most recently asked the less lofty price of $39 million. Adam Rothman of Douglas Elliman held the listing.
The 5,398-square-foot unit has four bedrooms and three-and-a-half bathrooms, as well as a great room, dining room and office that all boast Central Park views. The sale was prompted by a U.C.C. foreclosure action initiated by Miami-based Rok Lending, which alleged a $4.2 million default in loan payments, according to The Real Deal.
A company linked to the Kogans had taken out a $38 million loan that had been secured by the property at 15 Central Park West, as well as two other units the couple owns at the Plaza Hotel, which were purchased in 2007 for $26 million.
Since around 2022, Kogan has tried to sell a number of his properties, including ones located in Greenwich, Connecticut, and Israel.
The vast majority of properties that went under contract over the week were condos, with a total of 26 condos, nine co-ops and two townhouses securing buyers. The average asking price of properties was $9.86 million and the median asking price was $6.4 million. The average discount from the original asking price to last asking price was 14 percent, and properties spent an average of 765 days on market.
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