(NEW YORK, NY) — Manhattan’s luxury market saw the slowest third week of January since 2012. According to a report from Olshan Realty, twelve contracts above $4 million were signed last week. The report called it a “depressing total” even for this time of year.
The twelve properties that sold include nine condos, two co-ops, and one townhouse, together totaling $97,264,000.
The most expensive contract signed last week was PH54 at 56 Leonard Street for $22 million, $8 million less than the original asking price and over $1 million below what the owner paid ($23, 982, 851).
The report shows that the properties spent an average of 742 days on the market and saw an average price cut of 14%.