It arrived a few weeks late, but the Manhattan luxury real estate market has finally shifted into summer mode. Only 14 contracts were signed last week at $4 million and above, the first dip below a total of 20 contracts since the last week in January.

The No. 1 contract was the Penthouse at 6 West 77th Street, asking $22.5 million; it was listed at the end of May. The co-op was sold by the estate of Nancy Friday, the bestselling author of such provocative non-fiction books as My Mother Myself, The Power of Beauty, and Women on Top. This penthouse duplex is comprised of 4 units that were combined to lay out as 4 bedrooms and 3.5 bathrooms—encompassing part of the 16th floor and the entire 17th floor. The top floor is surrounded by a terrace that is approximately 3200 square feet. The monthly maintenance is $16,430, ...

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