LUXURY MARKET REPORT
August 12-18, 2019
Nineteen contracts were signed last week at $4 million and above, the highest total since the last week in June, when a wave of 25 contracts was signed. At that point, many last-minute buyers were rushing to skirt the increase in the New York State Mansion tax on July 1.

Stat Geek Alert I: In a highly unusual occurrence, the top 4 sales were all townhouses.

Stat Geek Alert II: A total of 5 townhouses made last week’s list, and altogether they were reduced on average by 39% from their original asking price before a contract was negotiated. What’s more, they spent an average of 1,036 days on the market.

The No. 1 contract was a townhouse at 141 West 11th Street, asking $21.85 million, reduced from $26.5 million when it went on the market in March 2015. The 6-floor, 22.75-foot-wide townhouse has 7,357 square ...

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