Manhattan’s Luxury Market Started August in a Slowdown

Manhattan’s luxury market started the month with a late summer slowdown.

The borough kicked off August with just 14 signed contracts for homes asking $4 million or more, according to Olshan Realty’s weekly report. The total was down from 23 in the previous period, but on par with the number of deals inked in the same weeks in 2022 and 2023.

A West Village townhouse asking $15.3 million was the priciest property to find a buyer between July 29 and Aug. 4. The four-story home spans 21 feet wide and 4,200 square feet and has four bedrooms and four bathrooms.

The home at 31 Grove Street, which hit the market in September with a $17 million asking price, also features a landscaped garden, terrace and skylights. The sellers renovated the property after purchasing it for $12.2 million in 2015.

Douglas Elliman’s Lindsay Barton Barrett had the listing.

The second most expensive home to land a signed contract was 10 East 82nd Street with an asking price of $11.5 million. The five-story townhouse spans 5,700 square feet and has six bedrooms and five bathrooms.

The nearly 20-foot-wide abode, landmarked in 1978, hit the market in October with a $12.5 million asking price and is “for sale for the first time in generations,” according to a Streeteasy listing for the property. It also features an elevator, 12-foot ceilings and more than 2,200 square feet of unused air rights.

Compass’ Ian Slater had the listing.

Of the 14 homes to find buyers, eight were condos, two were co-ops, one was a condop and three were townhouses.

The properties’ combined asking price was $98 million for an average price of $7 million and a median of $6.1 million. The typical home spent 810 days on the market and received a 12 percent discount.