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Two Upper East Side Penthouses Asking $33M Go into Contract

Two penthouse apartments were sold at 150 East 78th Street with the intent of combining them (Compass)

After an early October surge, Manhattan’s luxury home market stayed strong last week, with an Upper East Side penthouse leading the way.

Some 41 contracts for Manhattan homes asking $4 million or more were signed from Oct. 11 to Oct. 17, according to a weekly report by Olshan Realty. Forty-six had been signed the week before.

The No. 1 contract was for PH15 and PH16 at 150 East 78th Street, asking $32.75 million. The deal was for two penthouse apartments, sold to a family looking to combine them into a 7,288-square-foot expanse.

The mega-unit will have eight bedrooms, eight and a half bathrooms and two fireplaces, as well as two terraces totaling 1,484 square feet.

The second priciest listing to go into contract was the nearby PH19 at 109 East 79th Street, asking $28.85 million. The unit has 5,561 square feet with five bedrooms and five and a half bathrooms. It features a large living room with a fireplace that opens to a 23-foot-wide balcony. The library also has a terrace.

The median asking price for the 41 luxury contracts was $6.75 million, up from $5.6 million the prior week. The homes were on the market an average of 472 days.

In the past five weeks, the average discount on Manhattan luxury properties — defined as the drop in asking price for units that found buyers — has dropped to 5 percent from 10 percent.

Overall, condos outsold co-ops 34 to four. The other three contracts consisted of a condop and two townhouses.

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