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

Main Content

Manhattan Luxury Real Estate Report – July 11

The $4M and over Manhattan residential market saw only 18 signed contracts. The market is typically light during the 4th of July weekend. Downtown outpaced the rest of Manhattan with 8 contracts. There were 4 co-ops contracts versus 12 condo contracts. The average days on market were 455 and the average discount from list price was 20% FULL REPORT

Celebrity Real Estate News

Rebel Wilson is the latest to buy in 443 Greenwich paying @$1M less than the asking price.

Tina Brown lists another East Side Co-op for $2.8M

It’s A Wrap: This Week’s Celebrity Home Swaps

How does the market compare to last week? View my last report here.

Total Number of Manhattan Contracts Signed $4M and over

18 Signed Contracts Versus 17 The Prior Week

Here is the breakdown according to regions:

East West Midtown Downtown Totals
Co-ops 2 1 0 1 4
Condos 1 2 3 6 12
Townhouses 1 0 0 1 2
Totals 4 3 3 8                           18
  • Average asking price was $ 7,547,722 versus $8,540,176 the prior week.
  • The average number of days on the market was 455 versus 438 versus 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 20% versus 6%the prior week.
  • The Number 1 signed contract was a condo 50 Central Park South Floor 33  asking $27.5 million
  • reduced from $50 million . It was decorated by Michael Smith the same designer used by the
  • Obamas for the White House.
  • The Number 2 signed contract was a 25 foot wide townhouse at 16 East 82nd Street asking
  • $12.25 million reduced from $14.95 million. The house needs a complete renovation and is now
  • 6 units with 2 of the units containing 2 rent stabilized tenants

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? Contact me for the best strategy to get your home sold and or rented in this market.