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

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Manhattan Luxury Real Estate Report – November 1

After a lethargic 3rd Quarter the $4 million and over Manhattan luxury real estate market just hit its fifth straight week of a strong number of sales. There were 23 signed contracts last week. Condos outpaced co-ops 16 to 6. Downtown led the market with 10 contracts and the East Side was second with 6.

The Breakdown

Last week saw 23 luxury real estate sales vs 22 the week prior.

By Neighborhood:

East West Midtown Downtown Totals
Co-ops 4 2 0 0 6
Condos 2 2 2 10 16
Townhouses 0 0 1 0 1
Totals 6 4 3 10                       23
  • Weekly Sales Volume Total was $156,815,000 versus $163,340,000 prior week
  •  Average asking price was $6,818,043 the prior week.
  • The average number of days on the market was 377 versus 525 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 6% versus 14% the prior week.
  • The Number 1 signed contract was a new development condo at 737 Park Avenue #17E asking $13,590,000
  • The Number 2 signed contract was at resale condo at 320 West 12th Street #3W asking $12 million that sold in just 3 weeks. It sold for $8,909,687 in 2013.

Celebrity Real Estate News

Taylor Swift just purchased a place at 153 Franklin Street
Harvey Weinstein Pulls His Hampton Mansion Off The Market

Russian Oligarch Buys 4th Townhouse On The Street

Luxury Buzz!

How Developers Sell The Promise Of Luxury Lifestyle