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

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Manhattan Luxury Real Estate Report – July 6th

The $4M and over Manhattan residential market saw only 17 signed contracts the week prior to the 4th of July holiday. This was the lowest number for that week since 2013. Interestingly enough 2013 was one of our best years in the luxury market in Manhattan.

Total Number of Manhattan Contracts Signed $4M and over

  • 17 Signed Contracts Versus 29 The Prior Week

Here is the breakdown according to regions

East West Midtown Downtown Totals
Co-ops 2 0 0 0 2
Condos 2 4 1 7 14
Townhouses 1 0 0 2 1
Totals 5 5 1 7                           17
  • Average asking price was $8,540,176 versus $6,615,759the prior week.
  • The average number of days on the market was 438 versus 405 the prior week.
  • 180 days is the normal range. Luxury real estate has been taking longer to sell.
  • The average percentage of discount from origin5al asking price was 6% versus 13% the prior week.
  • The Number 1 signed contract was a condo 160 Leroy Street #PHS asking $31.5M. Sold off floorplan
  • The Number 2 signed contract was a new development condo developed by the Toll Brothers at
    1110 Park Avenue #F asking $17,995,000. It was purchased a year ago for $17,615,815 and relisted in
    January.

Are you curious about the value of your Manhattan home? Contact me for a free estimate.