Manhattan Luxury Market Update

For the week of September 26- October 2

14 contracts were signed last week at $4 million and above in Manhattan, two fewer than the previous week. You can blame that lackluster total on the continuing rise in interest rates and another disastrous week in the stock market. Another complication: a two-day Jewish holiday, which typically creates a lull in the action.

The No. 1 contract was 57A at 23 East 22nd Street, asking $16 million. The 3-bedroom, 3.5-bathroom unit has 3,310 square feet and sweeping views of the Empire State Building, Madison Square Park, and the city. This One Madison condo is owned by a media mogul, the apartment was bought for $14,927,000 in 2014. Above the 57th floor, selling a triplex penthouse, asking $58 million. Amenities in the building include a doorman, concierge, a fitness center with an indoor pool, steam room, lounge, screening room, and a private dining room.

- Total Weekly Asking Price Sales Volume: $115,704,000

- Average Asking Price: $8,264,571

- Median Asking Price: $6,245,000

- Average Discount from Original Ask to Last Asking Price: 6%

- Average Days on Market: 291

Report by Olshan Realty.

Images courtesy of Corcoran