Not a single Manhattan resi property above $10M went into contract last week
There were 9 contracts signed, the priciest being an $8.75M condo at 21 East 12th Street
Manhattan’s luxury market once again saw only nine contracts signed last week, this time for a total of $51.25 million. That continued the drastic slowdown from last week, which followed 10 straight weeks of 20 or more sales, according to Olshan Realty.
The contracts signed at $4 million or above were again split between seven condominiums and two co-ops.
Sales were the same as the week before, while dollar volume dropped slightly from about $53.9 million. Last week’s dollar volume was the lowest since mid-November 2013, and it was the second week in a row where no properties went into contract for $10 million or higher, which hasn’t happened since September 2011.
The top sale last week was for a condo at 21 East 12th Street, which was asking $8.75 million. The four-bedroom unit spans 2,679 square feet.
The second priciest deal was a tie between two units asking $6.5 million: a two-bedroom condo at 15 Central Park West spanning 2,135 square feet and a three-bedroom condo at 240 East 10th Street spanning 3,200 square feet.
Other contracts signed last week included a condo at 845 United Nations Plaza for $6.15 million and a co-op at 1155 Park Avenue for about $5.1 million. The properties spent an average of 369 days on the market last week and had an average discount of 4 percent from the original to the final asking price. [Olshan] – Eddie Small