LUXURY MARKET REPORT
March 16-22, 2020
Fourteen contracts were signed last week, a decent total in the midst of Life In the Time of the Coronavirus that has caused a stock market meltdown and a New York State shutdown of all businesses not considered essential. Condos outsold co-ops, 10-1, and 3 townhouses were in the mix. The dollar volume dropped 58% from 3 weeks ago to $90,910,000.

Stat Geek Alert: To give perspective, 13 signed contracts was the average weekly total from July 1-September 1, 2019. During that period, the average dollar volume was $94,646,111.

The No. 1 contract was a townhouse at 40 Gramercy Park North, asking $12.995 million, reduced from $14.95 million when it was listed in January 2019. This 20.5-foot-wide, 5-story house has 7,200 square feet including 6 bedrooms, 6 bathrooms, 3.5 powder rooms, and an elevator. The house is one of the few single-family homes on Gramercy Park. It has ...

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