The 3rd quarter ended last week, and this is what we learned: 229 contracts were signed at $4 million and above, a 16% drop over the same period last year. The average number of days on the market increased to 337 from 283. One troublesome spot was the decline in co-op sales—only 30 contracts were signed in the 3rd quarter, down from 55 in the same quarter last year. The results seem to reflect an overpriced market in correction mode.

As for last week’s stats, 16 contracts were signed at $4 million and above with 4 deals north of $20 million, including 2 Downtown penthouses that were the top sales of the week--a silver lining in a cloudy market.

The No.1 contract was the Penthouse at 42 Crosby Street, asking $25 million. This duplex condo was sold off of floorplans. It has 5,852 square feet including 5 bedrooms and 7 bathrooms. Upstairs is a living room, dining room, kitchen, and library, all of which is surrounded by a 4,024-square-foot terrace outfitted with a working fireplace. The Penthouse is in a 10-unit condo building designed by Annabelle Selldorf that just hit the market. Amenities include a doorman and a garage but no fitness center.

The No. 2 contract was another Downtown penthouse duplex: PH1 at 215 Chrystie, which has 4,300 square feet featuring breathtaking views of the city, 10-foot ceilings, 3 bedrooms, 4.5 bathrooms, and a media room, plus a 1,908-square foot roof terrace. The apartment was sold off of floorplans in an 11-unit condo that is being built above a hotel designed by the Pritzker-prize winning team of Herzog & de Meuron.