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

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Manhattan Luxury Real Estate Report – August 15

This is the 7th straight week that the luxury $4M and over Manhattan real estate market is below 20 signed contracts. Is it seasonality or a trend? We will find out in September. 17 contracts were signed last week. With 14 signed contracts, Downtown came in first with 6 and the Eastside and Midtown tied with 4. Condos trumped Co-Op sales 13 versus 2. Read my full report here and see the details of the top two contracts.

Celebrity Real Estate News

Yoko Ono’s former penthouse is plagued with toxic mold.

Socialite Lee Radziwill lists her Parisian Pied-a-terre.

Frye Fest organizer Billy McFarland lists his 345 West 14th street penthouse.

Fashion mogul Sere Azria lists his 443 Greenwich St penthouse for $17.3M

Luxury Buzz!

The Chartwell mansion in Bel Air has hit the market for $350M, the new most expensive home in America!

Total Number of Manhattan Contracts Signed $4M & Over

There were 17 signed contracts versus 14 the prior week. This was the seventh straight week below 20 signed contracts.

Neighborhood Breakdown

East West Midtown Downtown Totals
Co-ops 1 0 1 0 2
Condos 3 2 2 6 13
Townhouses 0 1 1 0 2
Totals 4 3 4 6                           17
  • Average asking price was $6,370,882 versus $7,263,571 the prior week.
  • The average number of days on the market was 591 versus 357 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 10% versus7% the prior week.
  • The Number 1 signed contract was a co-op at 1020 Fifth Avenue Floor 7 asking
  • $17,995,000 reduced from $20M when it was first listed in 2013.
  • The Number 2 signed contract at the Harsen House Condo at 120 West 72nd Street # PH1
  • Asking $10,495,000. It sold in less than 2 months on the market!