No Deals Above $8.5M As Upper East Side Luxury Real Estate Market Slows

UPPER EAST SIDE, NY — Luxury real estate sales on the Upper East Side have slumped in the past week, according to the latest market data.

Only two of NYC's priciest contracts inked in the past week were on the Upper East Side, down from five sales in the week before, according to the Olshan Luxury Market Report, which tracks luxury sales over $4 million in New York City.

Citywide, luxury real estate is having a bit of a slump as well. Eleven contracts over $4 million in New York City were signed from Sept. 8-14, four fewer than the week before.

Notably, the top contract inked this week is under $10 million, which is rare for the city, The Real Deal reported.

The top contract sold on the Upper East Side is a 2,858-square-foot condo with four bedrooms and four-and-a-half bathrooms that went for $8,500,000 on Sept. 8.

The condo is located at 255 East 77th St., right on the corner of Second Avenue. The brand-new building is being developed by Naftali Group. On Sept. 4, another condo at this building sold for $8,600,000, Patch previously reported.

The 255 East 77th St. contract was the second-highest inked between Sept. 8 and Sept. 14, only behind a condo in TriBeCa that went for $9,195,000.

The second-highest contract inked on the Upper East Side is a pre-war co-op in Carnegie Hill that went for $4,395,000 on Sept. 10.

The apartment is a three-bedroom, three-and-a-half-bathroom located at 1112 Park Ave., near the corner of East 90th Street.

Though sales may be taking a post-Labor Day dip, buzzy luxury homes are hitting the market, like pop star Ricky Martin's Upper East Side home, which he just listed for $6,450,000, the New York Post reported.

His 3,147-square-foot apartment, located at 170 East End Ave., near the corner of East 88th Street, overlooks Carl Schurz Park and has four bedrooms and four-and-a-half bathrooms, according to the StreetEasy listing.

A property owned by billionaire Edgar Bronfman Jr. and his wife Clarissa also hit the market in the past week on the Upper East Side for $19,900,000, according to the New York Post.

The triplex penthouse is located at 812 Park Ave., between 74th Street and 75th Street, and includes six bedrooms and six bathrooms, according to the StreetEasy listing.

Bill Cosby, the disgraced comedian, also listed his seven-floor, six-bedroom Upper East Side mansion, located at 18 East 71st St., for $29,000,000 this Monday.

For questions and tips, email Miranda.Levingston@Patch.com.