Garfield Sets Another Record with Sale of 26 West 71st Street

Posted January 15th, 2015

After starting off 2014 with the record sale of 47 West 70th Street ($19.3 million and $2,570/ft, the high water mark for an Upper West Side 20 footer), Leslie Garfield has again started 2015 off with a bang. 26 West 71st Street, which, like 70th Street, was sold by Rick Pretsfelder, recently traded for $11.9 million and $2,163, a record for a 17' wide property on the Upper West Side. The townhouse is a single-family home that was renovated in 2008. Garfield was able to close the deal within 75 days of hitting the market, in stark contract to the 17 townhouses on the market in the neighborhood asking $10.0+ million, 13 of which have been on the market for longer than 6 months. The transaction speak to the strength of the market for properties that are fairly priced, and helps to firm up the proper pricing levels (within the $2,200 to $2,600 band) for a market seeking to find the appropriate pricing structure for finished single-family inventory.

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