Manhattan luxury housing is still feeling the summer sales slump, recording the worst activity since January in the week ending Sunday, according to the Olshan Report released Monday.
Buyers signed contracts for just 12 homes priced at $4 million or more, one of the borough’s worst weeks this year, according to the weekly report from brokerage Olshan Realty. It tied with the first two weeks of January, which also logged 12 transactions each.
“For the first time since September 2016, not a single co-op went into contract,” wrote Donna Olshan, president of Olshan Realty and author of the report.
The nine condos and three townhouses that found buyers totaled $104 million, roughly a 30% drop from the previous week.
Townhouses took the spotlight in spite of the seasonal lull and commanded the highest prices.
The most expensive home to go into contract was a townhouse on Sutton Place, asking $12.995 million—a significant discount from the $19.5 milion the sellers originally wanted when they listed the home in October 2016.
The townhouse has four bedrooms, four bathrooms, top-floor terraces and an elevator. It’s one of six homes collectively known as Sutton Square, which share a common garden overlooking the East River.
The second most expensive home to find a buyer was a brownstone asking $11.9 million in the West Village. The pending sale also marks a major discount from the initial listing price of $17 million. The four-story home has nearly 5,000 square feet, four bedrooms and 10 fireplaces.