Manhattan Biggest Luxury Deal since Covid
The property at 332 West 11th Street hit the market in January 2019 with an asking price of almost $50 million. And last week, with the asking price lowered to $45 million, the West Village property finally found a buyer. Built in 1905, the five-story building is 50 feet wide, with 30,000 square
Published -
Nov 2, 2020 7:46 PM
The property at 332 West 11th Street hit the market in January 2019 with an asking price of almost $50 million. And last week, with the asking price lowered to $45 million, the West Village property finally found a buyer. Built in 1905, the five-story building is 50 feet wide, with 30,000 square feet of interior space and a large rooftop terrace space. Jack Jakub, who has been running an auto detailing shop out of the building for decades, reportedly has a roster of celebrity clients including Leonardo DiCaprio and Julianne Moore. Though the final sale price is unknown, the deal marks the largest contract since March and the second largest of 2020, according to the latest market report from Olshan Realty. It was one of 17 properties above $4 million to go into contract last week for a total of $184.7 million, the highest dollar volume since the beginning of March. Five of the properties were asking more than $10 million. The milestone is a good news for Manhattan’s luxury market, which was battered by the pandemic but has been showing signs of activity in recent months. That has happened as wealthy New Yorkers return to the city and weekly sales — while still down from last year — slowly tick upward.
Tags : INTERNATIONAL Real Estate Property COVID-19 building Luxury Deal Manhattan