Penthouses are driving Manhattan’s luxury real estate market, accounting for nearly a quarter of contracts for properties asking $4 million or more over the past two weeks. Ten penthouses sold with an average price of $10.7 million, typically discounted 15% after roughly a year on the market. The priciest deal was a $23 million West Village townhouse, while a Chelsea penthouse at 212 West 18th Street sold for nearly $16 million. Overall, 20 luxury contracts were signed, totaling $176 million with an average price of $8.8 million and a 10% average discount after 824 days on the market.
212 West 18th Street
