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

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Manhattan Luxury Real Estate Report – June 18

The $4M+ luxury real estate market in Manhattan stayed flat from last week, with 24 contracts signed. It’s been the 20th week in a row where we saw over 20 signed contracts in Manhattan. More than half of these deals were done downtown and interestingly eight of the $10M properties sold were at full asking price. This differs from what we’ve been seeing with steep discounts from asking price.

Top Luxury Real Estate Sales and Stats

East West Midtown Downtown Totals
Co-ops 1 1 0 2 5
Condos 0 2 3 9 14
Townhouses 3 1 0 1 5
Totals 4 4 3 13                 24
  • Weekly Sales Volume Total was $221,830,000 versus $176,305,000 the prior week
  • Average asking price was $9,242,017 versus $7,346,042 the prior week.
  • The average number of days on the market was 421 versus 390 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 9% versus 11% the prior week.
  • The Number 1 contract was a new development unit at the Plaza Hotel at 1 Central Park South #PH2003 asking $33.95M reduced by $1M when it went on last September.
  • The Number 2 signed contract was at a co-op at 810 Fifth Avenue Floor 11 asking $24M reduced from $22M when it was listed in March .