22 luxury contracts were signed last week at $4 million and above but only 4 of those were signed for new development according to the Olshan report. Transaction volume was down to $160 million from $225 million of the previous week.

Buyers are shopping for value at this point and we are seeing it across all market price points but especially the luxury market.

The Author-  Brian Silvestry , a licensed real estate broker, has been selling residential and commercial real estate since 1999. He has sold in every neighborhood from Battery Park City to Washington Heights.