Twenty-two contracts were signed last week at $4 million and above, the weakest start to May since 2011. But perhaps the most eye-popping stat of the week was found in…

…the No.1 contract, which was apartment 54AG at 25 Columbus Circle, asking $16 million, reduced from $50 million when it went on the market in October 2013. You read that right--the price was slashed by $34 million before it was teed up to go to contract. This Time Warner Center condo is a duplex with 3,582 square feet including 4 bedrooms, 4 bathrooms, and Central Park views. It was originally two units that were combined: 54G purchased for $2.75 million in 2004 and 54A purchased for $8.3 million in 2008. Condo amenities include a fitness center, landscaped terrace, meeting room with Central Park views, and access to the Mandarin Oriental Hotel’s pool and spa.

The No. 2 contract was 45West at 56 Leonard Street, asking $15 million. It was resold after closing for $11,401,305 on March 24. The unit has 3,576 square feet with 4 bedrooms, 4.5 bathrooms, and 2 terraces totaling 1,022 square feet that flank a 52-foot great room. 56 Leonard, designed like a glass obelisk by Pritzker Prize-winning architects Herzog & de Meuron, was an immediate hit when it started selling in the spring of 2013 off of floorplans. The 60-story condo has 145 units, and amenities include a fitness room, 75-foot Infinity-edge lap pool, landscaped sundeck with a hot tub, children’s playroom, conference center, and catering kitchen.

HIGH LIFE: Three penthouses went to contract last week—2 uptown and 1 downtown. The most expensive of the trio was PHW at 17 East 89th Street, asking $11.75 million. It was in excellent condition and sold immediately. The co-op has 3 bedrooms, 3 bathrooms, and a library, plus a wraparound, landscaped terrace with views of Central Park and the reservoir.