LUXURY MARKET REPORT
February 13-19, 2017
Twenty-nine contracts were signed last week at $4 million and above, five more than the previous week. One is tempted to paint a rosy forecast for the Spring, but let’s not overlook a cloud or two on the horizon. Year-to-date, the average Days On Market is 415, a 32% increase over the same period in 2016. The moral of the numbers: Sellers who lower their prices to a realistic level are more often than not rewarded with a sale.

The No.1 contract was a Penthouse at 4 East 72nd Street, asking $13,995,000, which sold within two weeks of listing. This 9-room duplex co-op has 13-foot ceilings and 3 fireplaces. The unit has southern views and angled peeks of Central Park. Downstairs is a 17 x 30-foot living room, 3 bedrooms, and a library; upstairs is a study. Both floors are surrounded by a wraparound terrace. The ...

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