Manhattan’s luxury market held steady with signed contract activity last week, but its two priciest properties had price cuts in tow.
The most expensive home to enter contract was a townhouse at 118 West 12th Street, with an asking price just under $20 million, according to Olshan Realty’s weekly report of homes in the borough asking at least $4 million. The last asking price is down from nearly $30 million when it listed in June 2022.
The seller bought the 24.5-foot-wide home for $15 million in 2021. The property has four stories and spans 6,600 square feet. It has five bedrooms, three bathrooms and two powder rooms, as well as a landscaped garden and a terrace off the top floor.
A listing posted when the property hit the market in 2017 said it was the first time the 1847-built Greek Revival townhouse has been publicly sold in 170 years. The son of artist Roy Lichtenstein initially asked $25 million before reducing the price to $22 million two months later.
The second most expensive home to enter contract last week was PH17W at 135 East 79th Street. The sponsor unit had an asking price of $19.9 million, down from the $22.4 million the seller paid the sponsor for the unit in 2013.
The 5,300-square-foot condo has five bedrooms and 5.5 bathrooms. It also has a library with a 269-square-foot terrace.
Amenities at the building include a fitness center, billiards room and resident wine cellar for a fee. There’s also a bicycle storage room and a lounge with a grand piano, fireplace and a catering kitchen that opens onto a landscaped courtyard garden.
Of the 20 homes to enter contract last week, 14 were condos, three were co-ops, two were townhouses and one was a cond-op.
The homes’ combined asking price was $174.8 million, which works out to an average asking price of $7.9 million and a median price of $5.4 million. The typical home spent 614 days on the market and received a 9 percent discount.