LUXURY MARKET REPORT
July 17-23, 2017
Sixteen contracts were signed last week at $4 million and above, marking the fourth straight week that the total dipped below 20. The low tide included 11 condos, 3 townhouses, and 2 co-ops for a paltry $122,558,000 in volume. Summer doldrums or a trending weakness in the market? Time will tell.

The No. 1 contract was 16A at 551 West 21st Street, asking $17.5 million, reduced from $19.5 million when it went on the market in September immediately after closing for $16,905,700. This 4,271-square-foot unit has 4 bedrooms and 4.5 bathrooms with sweeping Hudson River views in a new High Line area condo designed by Foster + Partners, home of the Pritzker Prize-winning architect Sir Norman Foster. The 19-story, 44-unit building features a gated drive-in court surrounded by a green wall, and has a 34-foot-tall lobby with prismatic glass. Amenities include a concierge/doorman, garage, fitness center, and children’s playroom. ...

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