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

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Manhattan Luxury Real Estate Report – 6/20

The $4M and over Manhattan residential market continued to slip for the second week in a row from 26 to 21 signed contracts. Are we in for a slow sleepy summer? We shall find out! Downtown continued to lead the market with 12 contracts followed by the Eastside with 5. Condos outpaced co-ops 16 condos to 2 co-ops.

Celebrity Real Estate News

Meg Ryan Sells Her $10.9 Million Manhattan Pad!

David Geffen’s $1Million Contractor Law Suit at 785 Fifth Penthouse

The Big Deal! 520 Park Avenue – 2 Contracts Signed – $70Million Asking Price 

Total Number of Manhattan Contracts Signed $4M and over

26 Signed Contracts Versus 32 The Prior Week

Here is the breakdown according to regions:

Real Estate Sales in Manhattan

  • Average asking price was $8,884,000 versus $7,364,923 the prior week.
  • The average number of days on the market was 405 versus 493 the prior week.
  • 180 days is the normal range. Luxury real estate has been taking longer to sell.
  • The average percentage of discount from origin5al asking price was 13% versus 6% the prior week.
  • The Number 1 signed contract was a recent condo conversion at 1 Central Park South PH 2009 ( The Plaza ) asking $39.75M reduced from $59M when originally listed by Christian Candy a London luxury developer. Real Deal article on this penthouse sale
  • The Number 2 signed contract was the combination of 2 new development townhouses at 21 E 12th Street asking $23.5M Townhouse A and Townhouse B

Are you curious about the value of your Manhattan home? Contact  me for my free  personalized  detailed pricing analysis. Thinking of selling or renting your Manhattan home?  Correct pricing and the right strategy is key.

Curious about the value of your home? Contact me for a free evaluation.