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Manhattan Luxury Real Estate Report – March 20

The robust Manhattan luxury $4 million and over market continues for seven weeks in a row with 26 signed contracts. The condo market outpaced the co-op market 18 to 3. The number of signed contracts were fairly even across all locations of Manhattan. Typically downtown leads the market. Five of the signed contracts were in the $10 million and over range. The average days on market were 409 and the average discount from the original asking price to present asking price was 14% demonstrating that sellers are moving further to meet the buyers in negotiations causing more contracts to get signed. This will be the first issue of the Pulse Weekly where I will be using video to give you highlights of the Pulse.

Top Manhattan Luxury Real Estate Sales and Stats

East West Midtown Downtown Totals
Co-ops 2 0 1 0 3
Condos 3 5 4 7 19
Townhouses 1 2 1 0 4
Totals 6 7 6 87                     26
  • Weekly Sales Volume Total was $184,280,000 versus $171,769,000 the prior week.
  • Average asking price was $7,087,692 versus $8,811,556 the prior week.
  • The average number of days on the market was 409 versus 422 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 14% versus 11% the prior week.
  • The Number 1 signed contract was a townhouse 46 East 65th Street asking $14 million.
  • The Number 2 signed contract was a cond-op at 21 East 61 # 6B asking $11.5 million reduced from $14 million original price .

Celebrity Real Estate News

Zayn Malik drops $10M on Soho penthouse after Gigi Hadid break up.

Crown Building penthouse in contract for whopping $180 Million!

Dick Cavet’s Glamorous Old- New York apartment is up for sale

Anbang files offering plan for 352 condos at the Waldorf Astoria.

Watch my latest video “How to Prepare Your Home for a Photo Shoot.”