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Manhattan Luxury Homes Get Black Friday Discounts

The average high-end pad was discounted 19% before finding a buyer

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The second most expensive contract signed last week was for a penthouse at 53 Leonard Street.

Nest Seekers International
The second most expensive contract signed last week was for a penthouse at 53 Leonard Street.
Nest Seekers International

Thanksgiving put a cramp in New York’s luxury market last week with only 15 homes finding buyers, according to a report Monday by Olshan Realty.

That’s on par for a typical Turkey Day. The most contracts signed during the holiday week since the Great Recession was in 2014 when 17 homes over $4 million found buyers, according to the weekly report.

More:Read About Manhattan Luxury Market

The deals cut on homes last week were worthy of Black Friday, as the average discount was a whopping 19%.

For instance, the No. 1 contract last week was a four-bedroom condo at 15 Central Park West, asking $25 million—a 24% discount from the $33 million the owners originally wanted when it was first listed in June, according to the report. The condo at the ritzy limestone building by Robert A.M. Stern spans nearly 3,500 square feet.

The price cut on last week’s No. 2 transaction was even greater. The triplex condo at 53 Leonard St. in Tribeca went into contract, asking just under $9 million, a 50% price cut from the $18 million price tag it had when it when it went on the market in May 2016.

The interior of the home has 3,287 square feet, plus thousands more square feet spread across outdoor terraces on every level.

In total, the week ending Sunday logged $112.5 million in luxury sales.