Carol Staab
Associate Broker
Douglas Elliman
111 Fifth Avenue
New York , NY 10003

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Manhattan Luxury Real Estate Report – December 12

The Manhattan luxury market, $4M and over market saw the highest dollar volume amount in a year! This bump up was due mainly to the three large contracts at the super tall 432 Park Avenue totaling $120,750,000. Rumor has it that one buyer bought all three to combine into a mega penthouse. The rumor can’t be confirmed at this time. Stay tuned for more information. Condos continue to outpace co-ops last week 22 to 4. The downtown market led with 15 of the contracts followed by midtown with 8 contracts.

Top Manhattan Real Estate Sales and Stats

East West Midtown Downtown Totals
Co-ops 3 0 0 1 4
Condos 0 4 8 10 22
Townhouses 0 0 0 4 4
Totals 3 4 8 15                       30

 

Weekly Sales Volume Total was $356,775,000 versus$246,565,000 the prior week

  • Average asking price was $11,892,500 versus $8,502,241 the prior week.
  • The average number of days on the market was 483 versus 581 versus days the prior week. 180 days is the normal range.
  • Luxury real estate has been taking longer to sell.
  • The average percentage of discount from original asking price was 3% versus 6% the prior week.
  • The Number 1 signed contract was a new development condo at 432 Park Avenue PH92A, asking $40,500,000 . 432 Park Avenue PH93B asking $40,250,000 and 432 Park Avenue PH 92B, asking $40 million. Rumor has it that one buyer bought all three units to combine into a colossal Penthouse.
  • The Number 2 signed contract at a new development 150 Wooster Street #PH1 asking.

 

Celebrity Real Estate News

Vincent Viola’s Upper East Side Mansion Could be the most expensive townhouse ever sold in NYC

Bob Weinstein ” Harvey’s brother” Sells His Westside Townhouse for $15 Million

Mark Zittman– NYC Mansion So Big It Was Called A ” Suburb” Slashes Price

Luxury Buzz!

432 Park Sells a $40 Million Penthouses!