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

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Manhattan Luxury Real Estate Report – December 19

The Manhattan luxury market, $4M and over market saw 18 signed contracts the same number as the second week of December 2016. Condos outpaced co-ops 13 to 4. For the first time in ages downtown did not lead with the number of sales. It was the Eastside with 7 followed by the Westside with 6.

Top Sales and Stats

The luxury market was tied with the same week last year with 18 signed contracts. This is down from 30 signed contracts last week.

East West Midtown Downtown Totals
Co-ops 3 1 0 0 4
Condos 4 5 2 2 13
Townhouses 0 0 0 1 1
Totals 7 6 2 3                       18

 

  • Weekly Sales Volume Total was $174,235,000 versus $356,775,000 the prior week.
  • Average asking price was $9,679,722 versus $11,892,500 the prior week.
  • The average number of days on the market was 487 versus 483 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 8% versus 3% the prior week.
  • The Number 1 signed contract was a new development condo at 432 Park Avenue #65A asking $29.75 million . Second week in a row that 432 Park took the 1st place spot.
  • The Number 2 signed contract at a new development 101 West 78th Street pH asking $23.5 Million.

 

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!