Twenty-seven contracts were signed last week in Manhattan at $4 million and above, 18 fewer than the previous week, which was the best week in the luxury market since December 2021. Condos outsold co-ops, 15-9, with 3 townhouses in the mix.

It was a solid performance, but one has to wonder: If the stock market continues to plunge in the coming days or weeks, what will be the impact on residential real estate.

Stat Geek Alert: Twelve of the 15 condos were sold by sponsors, averaging 14% discounts off the original asking price and languishing an average 2,025 days on the market (5.5 years!). The average asking price on sponsor apartments was $2,758/sq.ft.

The No. 1 contract was 2ADE at 1010 Fifth Avenue, asking $16.9 million; it was listed in September. The co-op has over 6,000 square feet including 6 bedrooms, 5 bathrooms, and 2 powder rooms. Most of the rooms face south on 82nd Street except for 3 bedrooms that face Fifth Avenue. The apartment is in excellent condition and was sold with 2 storage units. Amenities in this building include doorman, a resident manager, storage, and a fitness center. The co-op board allows 40% mortgage financing.

The No. 2 contract was a sponsor unit, PH38W, at 180 East 88th Street, asking $12.65 million, reduced from $15 million when it was listed in January 2016. The duplex condo has 3,794 square feet including 4 bedrooms, 4.5 bathrooms, and a study. Downstairs features a 44-foot great room with 28-foot ceilings, an eat-in kitchen, study, and primary suite. Upstairs are 3 more bedrooms. The unit has 9-foot windows and expansive views of Central Park and the city. Amenities in this 47-unit condo include doormen, a fitness center, a basketball court, playroom, game room, a residents lounge with catering kitchen, and storage.