Nineteen contracts were signed last week at $4 million and above in Manhattan,
7 fewer than the previous week. Condos outsold co-ops, 11-6, and 2 townhouses were in the mix.
Stat Geek Alert: The decline in the number of contracts is to be expected, considering the shortened July 4th week. In fact, the 10-year average of contracts signed at $4 million and above in the July 4th week is 18 contracts.
The No. 1 contract was a townhouse at 228 West 11th Street, asking $25 million when it was listed in the middle of May. This recently renovated 4-story, 25-foot-wide house has 6,454 square feet including 6 bedrooms, 5 bathrooms, and two offices. Its outdoor space totals 2,461 square feet including a garden with a gazebo and a hot tub. The house does not have an elevator, but it does have low real estate taxes--$36,162 per annum.
The No. 2 contract was 2/3C at 740 Park Avenue, asking $13.9 million, reduced from $19.5 million when it was listed 2 years ago. This duplex co-op has 5 bedrooms, 6.5 bathrooms, 2 fireplaces, and 10’9” ceilings. The building does not allow financing, and major renovating can only be conducted between May 15 and September 15. Amenities include a doorman, fitness center, and storage.