Manhattan’s Luxury market sees another painfully slow week as the end of January nears

The slowest third week of January since 2012

(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%.

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