LUXURY MARKET REPORT
February 6-12, 2017
From record-breaking to back-to-normal, that’s what last week was all about in the Manhattan luxury real estate market. Twenty-four contracts were signed at $4 million and above, 10 fewer than the previous week but on a par with typical mid-February sales. There is however, one trend of concern: Days On Market. Last week, the average property lingered on the market for 461 days with an average price reduction of 7% off the original asking price.

The No.1 contract was the 62nd floor at 45 East 22nd Street, asking $24.95 million. This 4,663-square-foot unit has 4 bedrooms, 4.5 bathrooms, and sweeping 360-degree views from the East River to the Hudson River. The apartment is in a new 65-story glass condo with 83 units that is under construction next to Madison Square Park. Amenities include a fitness center, basketball court, children’s playroom, and an outdoor terrace.

The No. ...

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