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

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Manhattan Luxury Real Estate Report – June 6th

Luxury Real Estate Sales

The hot winning streak of the $4M and over Manhattan residential market continues now for the past 30 days! 31 contracts were signed last week making it over 120 for the past month. 21 condo signed contracts versus 7 co-ops and 3 townhouses. Downtown led with 13 signed contracts and the east and west tied for second place. The average amount of days on the market was 417 and the average discount from the original asking price was 6%.

Do you love views? Here’s what it looks like from the top of 9 of Manhattan’s most exclusive buildings. From Mike Tauber’s “Vista Manhattan: Views From New York City’s Finest Residences.”

Manhattan Sales By Neighborhood

31 Signed Contracts Versus 32 The Prior Week

  • The Hot Streak Continues 4 Weeks In A Row!
  • Average asking price was $ 6,751,100 versus $8,727,343 the prior week.
  • The average number of days on the market 417 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 new development condo at asking $9.1M 21 East 12th St. # 21A & 21B asking $8,450,000 bought as a combination .
  •  The Number 2 signed contract was at a co-op at 825 Fifth Avenue # 15/BC asking $12.5M

Are you curious about the value of your Manhattan home? Contact me for my free personalized detailed pricing analysis. Correct pricing and the right strategy is key in this market for a successful sale or rental. I am available to answer any of your real estate questions about Manhattan or the many other markets we serve.