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

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Manhattan Luxury Real Estate Report – November 21

The Manhattan luxury market $4 million and over was just shy of having its best week of the year with 29 signed contracts. Condos again outsold co-ops 17 to 10. That said it was the highest level of co-op sales since last March. Downtown outpaced the market with 12 contracts however the east side came in closely at 10.

Total Number of Manhattan Contracts Signed $4M & Over

The luxury market enjoyed one of it’s best weeks this quarter with, 29 signed contracts vs 25 the week prior.

East West Midtown Downtown Totals
Co-ops 5 3 0 2 10
Condos 3 1 3 10 17
Townhouses 2 1 0 0 2
Totals 10 4 3 12                       29

Weekly Sales and Stats

  • Sales Volume Total was $229,677,000 versus $193,240,000 versus prior week
  • Average asking price was $7,919,897 versus $7,729600 the prior week.
  • The average number of days on the market was 465 days versus 554 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 7% versus 8% the
    prior week.
  • The Number 1 signed contract was at a new development at Superior Ink 400 West 12th Street 11AB
    And 11CD asking a total of $36.35 million or a huge $4.674 a square foot.
  • The Number 2 signed contract was a resale at 443 Greenwich #2H asking $13.8 million up from the
    $12.15 million asking price in 2014 when the condo opened.

Celebrity Real Estate News

Marc Lasry Billionaire Hedgefund Guy Lists UES Mansion Where Michael Jackson Lived.

John Lennon & Yoko Ono’s Downtown Embassy Is For Sale.

Katie Couric Lists Park Avenue Pad for $8.25 Million.

Luxury Buzz!

Revealed: Floor Plans For Crown Building’s $100 Million Penthouse.