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

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Manhattan Luxury Real Estate Report – June 13

The $4M and over Manhattan residential market slipped from 31 signed contracts to 26 last week. Twelve of the properties were new development condos. Downtown led with 12 signed contracts and the Eastside came in second with 7. Condos continue to have the lion’s share of signed contracts versus 4 co-ops. The average days on the market last week was 492 and the average discount from the original listing price was 6%.

Celebrity Real Estate News

Gabby Karan , Donna Karan’s daughter who owns Tutto Di Giorno restaurants in Tribeca & Southampton just bought a $5.2M condo at 45 E 80th on the fashionable Upper East Side.

Harry Styles buys at 443 Greenwich ( The Greenwich Lane) one of the most popular A-list new developments.

Total Number of Manhattan Contracts Signed $4M and Over

26 Signed Contracts Versus 32 The Prior Week

Here is the breakdown according to regions

  • Average asking price was $7,364,923 versus $8,727,343 the prior week.
  • The average number of days on the market was 493 versus 504 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 14% the prior week.
  • The Number 1 signed contract was a recent condo conversion at 737 Park Ave #12A asking $25 million reduced from $27 million
  • The Number 2 signed contract was at a townhouse at 115 East 79th Street asking $19.44 million.

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?  Correct pricing and the right strategy is key. Contact me to set up a free consultation.