Thirty-four contracts were signed last week at $4 million and above, 3 fewer than the previous week---and the lowest total in 9 weeks. It’s too early to tell if last week’s worrisome stock market performance had any effect on the total. Many investors predict a turbulent stock market ahead, and we will have to wait and see if this reverberates through the luxury real estate market.
Stat Geek Alert: In the last 4 weeks, the average price drop from the original asking price to the last asking price has narrowed from 9% to 4%, while average days on the market have decreased from 575 days to 472.
The No. 1 contract was the 34th floor at 111 West 57th Street, asking $21.5 million.
The condo has 4,492 square feet including 3 bedrooms, 3.5 bathrooms, and a large eat-in kitchen; a 37-foot great room and a 21-foot guest room/den face Central Park. The 60-unit, 82-story building rises 1,428 feet on the former site of the Steinway & Sons piano store. Amenities include a concierge, a fitness center, 82-foot pool, lounge, terrace, and a private dining room, plus a covered driveway entrance.
The No. 2 contract was PHC at 30 East 29th Street, asking $20 million. This Rose Hill condo duplex has 4,657 square feet including 4 bedrooms and 4.5 bathrooms.
Three terraces total 919 square feet. Downstairs contains a 39-foot great room, media room, eat-in kitchen, and master bedroom. Upstairs are 3 bedrooms and a playroom. Amenities in this 123-unit, 47-story building include doorman, fitness center, a 50-foot pool, a squash court, a lounge with billiards, and private dining.