Eighteen contracts were signed last week at $4 million and above, the same total as last year in the days following the Martin Luther King Monday holiday. There is, however, one big difference: Properties sold last week spent an average of 787 days on the market and were reduced by 20% off the original asking price before going to contract. The numbers were skewed by a couple of sales by developers, who spent years marketing their units at fantasy prices.

Nothing exemplifies this aberration better than a condo that tied for the No. 1 spot.

That would be PH at 12 East 13th Street, asking $12.95 million, reduced from $30.5 million—yep, you read that right--when the sponsor listed the unit in December 2013. The Penthouse triplex has 5,704 square feet including 4 bedrooms, 4.5 bathrooms, an internal elevator, and 2 terraces totaling 906 square feet. It comes with 2 parking spaces. The unit also has a dramatic 3-story wall of glass.

The condo tying the No. 1 slot was 8N at 213 West 23rd Street, asking $12.95 million, reduced from $14.5 million when it was listed in October 2016. This 7,000-square foot duplex has 4 bedrooms and 3.5 bathrooms, 2 fireplaces, and an office. It was purchased for $8.35 million in 2007 and then renovated by architect Annabelle Selldorf and designer Jeffrey Beers. The building has a video intercom system but no doorman.

The No 2 contract was 47A at 151 East 58th Street, asking $11.8 million, reduced from $14.5 million when it went on the market in May. This Beacon Court condo has 3,058 square feet including 3 bedrooms, 3.5 bathrooms, and spectacular views of Central Park and beyond.