Manhattan Luxury Deals Ticked Up Last Week But Still Below Average

Even for the traditionally slow month of August, Manhattan’s luxury market is somewhat sleepier than usual.

A total of 15 contracts for homes priced at $4 million and up were signed last week, a slight uptick from the previous week’s 13, but still below average numbers, according to Monday’s weekly market report from Olshan Realty.

All told, 28 luxury contracts have been signed in the first two weeks of August, which is comparable to the same period in 2018, but still below the long-term average.

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“The 10-year average of contracts signed at $4 million and above in the first two weeks of August is 37 or 15.5 contracts per week,” Olshan Realty president Donna Olshan wrote in the report.

The median asking price for the week’s signed contracts was $5.95 million, and the highest-priced deal took place at 95 Charles Street in the West Village, for a sprawling four-floor condo that was most recently asking $13.995 million. The six-bedroom unit features a “dramatic great room with 16-foot ceilings,” according to the report, as well as a 1,295-square-foot garden with an outdoor kitchen.

The second most expensive deal was on the Upper East Side, where a contract was signed for a seven-bedroom duplex co-op that had most recently been asking $12 million. The apartment “needs to be renovated and has been owned by the same family for over 50 years,” the listing notes, which is likely worth it to the new buyers based on the unit’s views overlooking Park Avenue and 79th Street.


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