New condo sales slowed in April, especially in the luxury market
Discounts dominate Manhattan luxury contracts
West Village townhouse and a Fifth Avenue co-op signed after price cuts
The buyers at the top of Manhattan’s luxury market scored discounts in a week that illustrated just how much has changed in a year.
Thirty contracts were signed between May 1 and 7 for homes asking $4 million or more, according to Olshan Realty’s weekly report. Last week was the seventh this year to count that total, down from the 14 notched by this time in 2022.
The most expensive contract was a townhouse at 33 Perry Street with a $16.9 million asking price, down from $19.5 million when it was listed last June.
The three-story, 26-foot-wide house was built as a carriage house in the 19th century and has been divided into three apartments, including an owner’s duplex on the top two floors. The 6,600-square-foot home also has six bedrooms, six and a half bathrooms, six fireplaces and a roof garden.
The property was converted to a house from a stable in the 1920s by architect Harris V. Hartman, who included wrought iron gates and lanterns, inlaid tiles, stained glass and a riveted plank entry door.
The second most expensive home to enter contract last week was the eighth floor at 810 Fifth Avenue, with an asking price of $16.5 million, down from $22 million when it first hit the market in 2020.
The full-floor co-op has four bedrooms and four and a half bathrooms, as well as a living room and library, each with a fireplace, overlooking Central Park. Amenities in the building, where the board doesn’t allow financing, include doormen and storage.
Of the 30 homes that entered contract last week, 20 were condos, six were co-ops, two were condops and two were townhouses.
The homes combined for $242.8 million in volume, with an average asking price of $8 million and a median asking price of $6.8 million. The average home spent 629 days on the market and received an 8 percent discount.
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