The $4M and over Manhattan residential market saw 17 signed contracts last week. It is the fifth week in a row that the number of signed contracts have been below 20. Condos outpaced co-ops 14 to 2. Downtown lead with 8 signed contracts and the east side was right behind with 7. The big news of the week is the signed contract of 70 Vestry #PHS asking $65 Million. It will break a downtown record when it closes.
In case you missed my 2nd Quarter Manhattan Market Report video, the number of sales surged in the 2nd Quarter. Find out why, here.
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Luxury Real Esate Buzz
70 Vestry #PHS a $65 million signed contract will set a downtown record when it closes.
Total Number of Manhattan Contracts Signed $4M & Over
- 17 signed contracts versus 18 the prior week.
- Last week was the fifth week in a row below 20 signed contracts.
- Average asking price was $9,605,265 versus $7,659,875the prior week.
- The average number of days on the market was 439 versus 577 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 6% versus 9%the prior week.
- The Number 1 signed contract was a new development condo 70 Vestry #PHS asking $65 million .
- It will break a downtown record when it closes.