LUXURY MARKET REPORT
August 15-21, 2016
Sixteen contracts were signed last week at $4 million and above. If you are looking for a silver lining in this number, that’s 7 more than the previous week, but it’s wise to keep expectations in check until after Labor Day, when potential buyers return from vacation.

The No. 1 contract was Apartment 1/2 at 22 Gramercy Park South asking $14.5 million, reduced from $16.25 million when it went on the market in February. This 4,973-square-foot triplex has 4 bedrooms, 5.5 bathrooms and 3 gas fireplaces, plus a garden and 2 terraces. It’s a beautifully renovated apartment in a 26-foot-wide, 5-story Greek Revival house that was converted into a 3-unit condo in 2010. The living room and master suite face Gramercy Park.

The No.2 contract was 10E at 960 Park Avenue, asking $13.5 million, well below the $15.5 million it sold for in July 2014, when it ...

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