LUXURY MARKET REPORT
July 11-17, 2016
The dog days of August seem to have arrived a little early this year, at least in the Manhattan luxury real estate market. Only 17 contracts were signed last week at $4 million and above—one less than the previous week, which was nothing to shout about. Ten of the 15 condos that sold were in new developments; some of them went on the market several years ago.

The No. 1 contract was a brownstone at 451 West 24th Street, asking $13.75 million that sold within a month of listing. This 21-foot-wide, 4-story house was purchased in 2007 for $4.4 million, and then underwent a multi-year renovation that expanded the building to 5,000 square feet including 4 bedrooms, 3 bathrooms, 2 powder rooms, a terrace off the master suite, and a landscaped garden. Architect Winka Dubbeldam delivered a high level of design that incorporated contemporary details including a rear glass façade and a glass-enclosed staircase.

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