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

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Manhattan Luxury Real Estate Report – February 6th

The Manhattan luxury $4 million and over market soared last week! There were 26 signed contracts. February is off to a great start due to buyers feeling more confident about the market and wanting to take advantage of the buying opportunities out there. Condos outsold co-ops 13 to 8. However 8 is a good number for co-ops. For the first time in a very long time the East side beat all the other areas with 8 contracts. The Westside and Downtown tied for second place with 7 contracts.

The market fell 666 points of Friday. Stay tuned to see if the stock market numbers have any effect on next week’s Manhattan luxury real estate market.

Top Manhattan Luxury Real Estate Sales and Stats

With the luxury market soaring last week, here is a breakdown of how each neighborhood performed.

East West Midtown Downtown Totals
Co-ops 5 3 0 0 8
Condos 3 1 4 7 15
Townhouses 0 3 0 0 3
Totals 8 2 4 11                       26
  • Weekly Sales Volume Total was $211,766,000 versus $110,263,990 versus prior week.
  • Average asking price was $8,144,423 versus $7,350,933 the prior week.
  • The average number of days on the market was 420 versus 566 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% versus 16% the prior week.
  • The Number 1 signed contract was at the Stanhope at 995 Fifth Avenue # 11SN  asking $29.75 million. The units when combined will offer 69 feet overlooking Central Park.
  • The Number 2 signed contract 23 East 22nd Street # PH55/56 asking $26.95 million reduced from $37.5 million when it went on the market in 2013.

Celebrity Real Estate News

Rocker Jon Bon Jovi Sells West Village Spread.

Bikram Yoga Guru Lists Former Kushner Eastside Pad for $4 million.

Jed Walentas Buys Noho Penthouse.

Looking for an evaluation on how the market effects your home? Contact me today.