Manhattan luxury market at a glance

This week's deals included 5 condos and 3 co-ops, with no townhouses. The number to watch is the 4% average discount: three of the eight homes signed after a price reduction, a shift from last week, when buyers signed at full ask on average. Negotiation is back on the table for listings that have lingered, while fresh, well-priced homes are still going quickly.

Downtown and the Upper West Side split NYC luxury sales

Downtown Manhattan and the Upper West Side each accounted for 38% of this week's luxury contracts, 3 deals apiece. Downtown's came from Tribeca (two condos) and NoMad, while the Upper West Side drew buyers to Central Park West, the Westly on Broadway and One Waterline Square on the Hudson. The Upper East Side and Midtown each added one deal, including the week's top contract in Lenox Hill.

Condos and co-ops

Co-ops punched above their weight this week: they made up just 3 of the 8 deals but included the top contract, and their average asking price edged out the condos'. They also delivered more space for the money, averaging about $2,437 per square foot versus $3,201 for condos. No townhouses went to contract above $5 million this week.

Every Manhattan luxury contract signed this week

All 8 deals, ranked by last asking price. The bar under each listing shows its price relative to the week's top deal.

1. 32 East 64th Street, Unit 9W
   $14,500,000
   Lenox Hill co-op  |  5 beds, 4.5 baths  |  5,000 sq ft  |  $2,900/sq ft  |  337 days on market

   Top deal of the weekA top-floor, 5-bedroom home at The Verona, the 1908 prewar co-op at Madison Avenue and 64th Street, that found its buyer after a reduction from its initial $15,500,000 ask.

2. 37 Warren Street, Penthouse CD
   $13,250,000
   Tribeca condo  |  4 beds, 5 baths  |  5,499 sq ft  |  $2,410/sq ft  |  7 days on market

   Fastest dealA nearly 5,500-square-foot penthouse at Warren Lofts, the boutique prewar condo, that went to contract in one week at its full asking price.

3. 251 West 91st Street, Unit 15A
   $11,995,000
   Upper West Side condo  |  5 beds, 4.5 baths  |  3,444 sq ft  |  $3,483/sq ft

   A 5-bedroom residence at The Westly, the ODA-designed limestone condo at Broadway and 91st Street, showing the demand for large, new-construction family homes on the Upper West Side.

4. 217 West 57th Street, Unit 34F
   $7,950,000
   Midtown condo  |  2 beds, 2.5 baths  |  2,114 sq ft  |  $3,761/sq ft

   Highest price per sq ftA 2-bedroom at Central Park Tower on Billionaires' Row, the week's priciest home per square foot.

5. 56 Leonard Street, Unit 33BW
   $7,650,000
   Tribeca condo  |  3 beds, 3.5 baths  |  2,177 sq ft  |  $3,515/sq ft  |  87 days on market

   A 33rd-floor home in Herzog & de Meuron's "Jenga" tower that signed after a trim from its initial $8,000,000 ask.

6. 151 Central Park West, Unit 7C
   $7,495,000
   Upper West Side co-op  |  3 beds, 2 baths  |  3,000 sq ft  |  $2,498/sq ft  |  22 days on market

   Signed at full ask in just over three weeks at The Kenilworth, the 1907 Second Empire co-op at the corner of 75th Street and Central Park West.

7. 10 Riverside Boulevard, Unit 30B
   $6,500,000
   Upper West Side condo  |  3 beds, 3.5 baths  |  2,295 sq ft  |  $2,833/sq ft  |  407 days on market

   A 30th-floor home at One Waterline Square that went to contract after 407 days and a 13% reduction from its initial $7,500,000 ask, the week's biggest price cut.

8. 105 East 29th Street, Penthouse 12
   $6,500,000
   NoMad co-op  |  3 beds, 3.5 baths  |  3,400 sq ft  |  $1,912/sq ft  |  158 days on market

   A penthouse loft designed by Daniel Romualdez in a boutique 1913 co-op, and the week's best value at under $2,000 per square foot.

What this means for Manhattan luxury buyers and sellers

• A slower week, not a stall.Contracts fell from 16 to 8, but buyers still committed $75.8 million, and the top of the list was led by a $14.5 million co-op. One quiet week after a strong one is normal in the luxury market.
• Buyers have more room to negotiate.Three of the eight deals signed after price reductions, pushing the average discount to 4%. The longest-listed home, at One Waterline Square, took a 13% cut before finding a buyer after 407 days.
• Priced right, homes still move fast.The Warren Lofts penthouse went to contract in 7 days and the Kenilworth co-op in 22, both at full ask. Correct pricing from day one is still the fastest route to a deal.
• Co-ops deserve a second look.Co-ops delivered the week's top deal and averaged about $2,437 per square foot, well below condos at $3,201, offering more space for the money.