The Olshan Report

Luxury Market Report, November 9-15, 2020

November 16, 2020

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Twenty-two contracts were signed last week at $4 million and above, the highest total since the {rst week in March–right before the pandemic kicked into high gear–when 27 contracts were signed. Stat Geek Alert: Surprisingly, in the last 4 weeks, 72 contracts have been signed at $4 million and above compared to 64 contracts in the same period in 2019. The No. 1 contract was PHB at 1045 Madison Avenue, asking $35 million. The penthouse duplex is in a new condo called The Benson, which is under construction between 79th and 80th Street. The unit has 6,632 square feet including 7 bedrooms and 7.5 bathrooms. The corner living room measures 19’ x 24’ and has a gas{replace. Three terraces ox the entertaining space total of 752 square feet. The 15-unit, 18-story building was designed in a traditional style by architect PeterPennoyer. Amenities include a concierge, roof terrace, {tness center, half-court basketball, a children’s playroom, a library with a garden, and a pet spa. The listing brokers declined to comment on the sale. The No. 2 contract was PHB at 7 Hubert Street, asking $21 million; it was listed in May. The penthouse condo has 4,200 square feet including 3 bedrooms, 3.5 bathrooms, an office, a media room, and 360-degree views. The unit was designed by architect Thierry Despont. It was purchased by the seller for $15.6 million in June of 2013. Building amenities include a doorman, {tness center, children’s playroom, bike room, and storage. The listing broker was Richard Orenstein of Brown, Harris, Stevens, and the buyer was represented by Jeremy Stein of Sotheby’s, who said, “The buyer was from out-of-state and was looking for a place in NYC that they will use with growing frequency. They wanted something really special, which they found in PHB.“ Orenstein declined to provide further details other than to say, “I never sell and tell.” He added, “Extraordinary apartments still sell for extraordinary prices.”