"The luxury market as a whole is struggling to find its footing, and the trophy market defined in the report as homes asking $10 million or more is in more dire straits. During the same four-week period, just 11 trophy properties found buyers, compared to 27 a year ago. Even the top contract inked this week was under $10 million, a rare occurrence in the borough."
"The condo at 111 Murray Street last asked $9.2 million, down from $9.5 million when it hit the market in February. Unit 45East at the Tribeca building last traded for $6.7 million in 2021. The 2,800-square-foot apartment has three bedrooms and four bathrooms and features a corner great room with views of the Manhattan skyline. The 157-unit building, developed by the Fisher Brothers, Witkoff Group and New Valley ventures, includes amenities such as a fitness center, pool, hammam and landscaped terrace."
"Earlier this summer, a penthouse at the building asking $34 million finally landed a buyer after 10 years on the market. Corcoran's Nick Riback, Patrick Rukai and Reid Lacognata had the listing. The second most expensive property to enter contract was a condo at the Naftali Group's 255 East 77th Street, with an asking price of $8.5 million. Unit 28B spans 2,900 square feet and has four bedrooms and four bathrooms. The apartment was one of 44 of the building's 62 units to find buyers since sales launched last September."
Manhattan logged another weekly decline in contracts signed for homes asking $4 million or more, with buyers signing contracts for just 11 luxury properties between Sept. 8 and Sept. 14, down from 15 the previous period. Over the last four weeks, 64 homes entered contract, down from 87 during the same period in 2024, and pending deal values were roughly half of last year's sales volume. The trophy market for homes asking $10 million or more recorded only 11 contracts versus 27 a year ago. The top contract this week was below $10 million.
Read at therealdeal.com
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