![Harry Macklowe with 737 Park Avenue](https://static.therealdeal.com/wp-content/uploads/2022/07/FT-Luxury-sales-pick-up-in-central-Manhattan-250x179.jpg)
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Manhattan luxury contracts drag through July
Twenty-two contracts led by loss at Macklowe’s 737 Park Avenue
![129 E 73rd Street and 737 Park Ave](https://static.therealdeal.com/wp-content/uploads/2023/07/Manhattan-Luxury-Sales-Dip-In-Mid-July_Main-1400x875.jpg)
Manhattan’s luxury market held steady in terms of signed contracts last week, but lost a little shine in terms of its bottom line.
The combined volume of contracts signed between July 17 and 23 fell nearly $90 million from the previous period, according to Olshan Realty’s weekly report on homes asking $4 million or more. The second week of July marked a rush of activity for trophy properties, when 10 homes asking $10 million or more went into contract.
The number of contracts dipped to 22 from 24 recorded the previous week.
The top contract last week was a townhouse at 129 East 73rd Street asking $27.5 million.
The 22-foot-wide home, which spans roughly 12,000 square feet, listed in May. The owner bought it for $8.8 million in 2003 before renovating it in the following years. Annual real estate taxes are just under $187,000.
The home has seven bedrooms, nine bathrooms, eight fireplaces and three terraces. The top floor has a basketball court with a skylight that opens onto a rooftop terrace with a hot tub.
The second most expensive contract was for Unit 16E at Macklowe Properties’ and CIM Group’s 737 Park Avenue.
The unit asked $11.9 million, down from just under $13 million when it listed at the end of October. The seller bought the apartment for nearly $17.4 million in 2014 from sponsor Harry Macklowe.
The condo spans nearly 3,900 square feet and has four bedrooms, 4.5 bathrooms, and a private elevator landing. The unit faces 71st Street and has a 360-square-foot terrace off the primary bedroom.
Of the 22 homes that entered contract last week, 13 were condos, five were co-ops, three were townhouses and one was a condop.
The homes’ combined volume was $162.4 million. The average asking price was $7.4 million and the median asking price was $5.8 million. The typical home spent 662 days on the market and received a 2 percent discount.
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![Harry Macklowe with 737 Park Avenue](https://static.therealdeal.com/wp-content/uploads/2022/07/FT-Luxury-sales-pick-up-in-central-Manhattan-250x179.jpg)
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