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New York's high-end sales market hits its worst week since Hurricane Sandy

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The total dollar volume of contracts signed last week was the lowest it’s been in over a year

The living room of the townhouse at 236 East 49th Street, the second priciest residence to enter contract last week.
Brown Harris Stevens

It’s the eighth consecutive week that luxury sales have numbered below 20, according to the Olshan Report that tracks the sale of New York residences priced over $4 million.

The summer slump was particularly bad the week of August 14-20 for high-priced sales. The report notes that no contracts priced over $10 million were signed last week—the first time that’s happened since the week of October 29, 2012, when Hurricane Sandy landed in NYC.

The priciest contract signed last week was for a duplex co-op at 830 Park Avenue with three bedrooms and four bathrooms that was asking $8.995 million.

The second priciest contract signed last week was for a 19-foot-wide townhouse at 236 East 49th Street. The five-bedroom, six-bathroom townhouse, one of 20 that share Turtle Bay Gardens, was on the market for $8.5 million.

The total asking price dollar volume of contracts signed last week numbered $87.56 million, the lowest figure in just over one year.

Behold, the floorplan for the priciest residence to enter contract last week.
The floorplan for the second priciest listing to enter contract last week.