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

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Manhattan Luxury Real Estate Market Report – August 29

The Manhattan $4 million and over luxury market saw 15 signed contracts last week. It was the ninth straight week in the row that the market saw under 20 signed contracts. Condos outsold co-ops 12 to 3. Downtown beat all other areas with 8 signed contracts. Read More

212 West 18th Street #16D at the iconic Walker Tower was the #2 contract with a $11.50 million asking price. It sold for @$5.9M in 2013. The seller won big time!

In this week’s blog I share my tips for selling a stale or expired listing. I sell so many expired listings that some of my clients refer to me as the ” real estate doctor”. Contact me if you would like to discuss the marketing of your home.

Celebrity Real Estate News

Actor Stephen Dorff Sells His Chelsea Penthouse For Over Asking.

Mariah Carey Is Getting New Neighbors.

Justin Theroux’s Legal War With His Greenwich Neighbor

Jane Fonda’s Beverly Hills Mansion Drops To $9.99 million.

The Luxury Buzz!

15 Central Park West remains Manhattan’s Most Expensive Condo!

Manhattan Real Estate Contracts This Week

This was the 9th week in a row where Manhattan Real Estate Contracts were down. Last week saw 15 signed contracts in the $4M and over luxury market.

East West Midtown Downtown Totals
Co-ops 2 0 0 1 3
Condos 1 3 1 7 12
Townhouses 0 0 0 0 0
Totals 3 3 1 8                         15

Notable Manhattan Luxury Real Estate Sales

  • Weekly Sales Volume Total – $100,065,000 versus $87,560,000 prior week
  • Average asking price was $6,671,000 versus $6,254,286 the prior week.
  • The average number of days on the market was 402 days versus 470 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 4% the same as the prior week.
  • The Number 1 signed contract was a new construction condo sold off floorplans at
  • 160 Leroy Street #12A South asking $16.25 million raised from $16 million
  • The Number 2 signed contract at a Walker Tower 212 West 18th Street #16D
  • Asking $11,150,000. It sold for $5,905,850 in 2013. Seller did very well on this investment!