The unusual spurt of activity that hit Manhattan luxury real estate in the last week of July quickly dissipated and has returned to the expected summer lull, according to the Olshan Report on Monday.
Buyers signed contracts for only 16 homes prices at $4 million or more in the week ending Sunday, a significant drop from the burst of 26 transactions in the previous week, according to the weekly figures compiled by Olshan Realty.
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Condos outsold co-ops 12 to four and no townhouses sold during the past week. Those 16 apartments totaled $146.5 million, a 38% drop from the robust $236 million logged in the prior week.
While overall activity was subdued, Lower Manhattan logged a few significant sales.
"The top two deals were downtown condos that have views of the Hudson River," wrote Donna Olshan, president of Olshan Realty and author of the report.
The most expensive contract signed last week was for a penthouse at the Renzo Piano-designed 565 Broome St. in SoHo, asking $40.5 million. The four-bedroom duplex apartment spans more than 6,600 square feet with an additional 3,400 square feet of outdoor space, including a rooftop terrace. The roof encompasses a 20-foot private pool.
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The second most expensive unit to find a buyer last week was a three-bedroom at 150 Charles St., asking $15.45 million. The 3,000-square-foot apartment is in a popular building in the West Village. The seller bought the new development unit in 2016 for $12.5 million, making a near-$3 million profit.