Introduction: A quiet week, a loud opportunity
A client asked me after the holiday: *“Did the market wake up yet?”* My answer: **“Not loudly—so this is when smart offers whisper their way to yes.”** In the first full week of September, Manhattan logged **15 contracts at \$4M+**, led by a **\$22M** condo at **111 West 57th Street**; the **median ask** sat at **\$6.4M**, with an **average 6% discount from original ask** and the **typical listing on market >18 months**. Translation? **Less frenzy, more leverage—if you structure asks the right way.** ([The Real Deal][1])
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Audience & Transformation (Who you are → What changes)
* **Any buyer** can **lock a stronger long‑term basis** by **shopping the post‑Labor Day lull and asking for performance‑based credits (windows, HVAC, punch‑list holdbacks)**, because **the week printed just 15 deals and a modest 6% discount—thin competition + targeted credits = better true cost**. ([The Real Deal][1])
* **Any renter** can **upgrade lifestyle without overpaying** by **leveraging rising September inventory and trying target neighborhoods pre‑purchase**, because **more choice + calmer bidding lets you negotiate net-effective terms and gather comps for a Q4 buy.**
* **Any investor** can **stabilize ROI and hedge seasonality** by **barbelling a Manhattan trophy (capital preservation) with a cash‑yielding Brooklyn/NW Queens asset and optional Hamptons summer performer (“luxury Hamptons vacation home market trends 2025”)**, because **diversified cash flow smooths the ride while you capture NYC upside.**
* **Any seller/developer** can **defend price and cut DOM** by **launching into upswing weeks (watch signed‑contract momentum) and packaging proof‑of‑value**, because **buyers pay for certainty when velocity picks up.** ([The Real Deal][2])
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Purpose & Focus
**Purpose:** Translate the **Olshan Luxury Market Report (Sept 1–7, 2025)** into **clear, actionable plays** for buyers, renters, investors, and sellers.
**Focus:** **What happened** (hard numbers), **what it means** (strategy), and **what to do this week** (scripts + checklists). ([The Real Deal][1])
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This Week’s Luxury Snapshot (Manhattan, \$4M+)
* **Contracts:** **15** (vs. **16** the prior period; decade average for this week ≈ **17**). *Seasonally soft.* ([The Real Deal][1], [Mansion Global][3])
* **Top deal:** **111 W 57th St**, ask **\$22M**; **2nd:** **250 West St**, ask **\$14.5M**. ([The Real Deal][1])
* **Property mix:** **10 condos**, **5 co‑ops**, **0 townhouses**. ([The Real Deal][1])
* **Volume & pricing:** **\$130M total**, **\$8.7M average**, **\$6.4M median**, **\~6% discount**, **>18 months** typical DOM. ([The Real Deal][1])
*Context:* Two weeks earlier (**Aug 18–24**) printed **22 deals** with a **17%** discount—buyer leverage was wider then—while the week just before Labor Day logged **16 deals** and **\$111.5M** in volume as August finished **fourth‑best since 2006**. ([The Real Deal][2], [Mansion Global][3])
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Visual Briefing (save & share)
**1) Momentum Check — Late August → Early September**
*22 → 16 → 15 signed contracts (Aug 18–24, Aug 25–31, Sep 1–7).* ([The Real Deal][2], [Mansion Global][3])
[Download the chart](sandbox:/mnt/data/nyc_luxury_contracts_trend_aug18_to_sep7_2025.png)
**2) What Won the Week — Property Type Mix**
*Condos 10 • Co‑ops 5 • Townhouses 0.* ([The Real Deal][1])
[Download the chart](sandbox:/mnt/data/nyc_luxury_type_mix_sep1_7_2025.png)
**3) Price Snapshot — Average vs. Median**
*\$8.7M avg vs. \$6.4M median.* ([The Real Deal][1])
[Download the chart](sandbox:/mnt/data/nyc_luxury_price_snapshot_sep1_7_2025.png)
**4) Volume Composition — Two Headliners vs. the Pack**
*Top two = **\$36.5M** of **\$130M** total (\~28%).* ([The Real Deal][1])
[Download the chart](sandbox:/mnt/data/nyc_luxury_volume_composition_sep1_7_2025.png)
**5) Discount Window — Then vs. Now**
*Aug 18–24: **17%** vs. Sep 1–7: **6%**—leverage narrowed, but hasn’t vanished.* ([The Real Deal][2])
[Download the chart](sandbox:/mnt/data/nyc_luxury_discount_compare_aug_vs_sep_2025.png)
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What It Means (Micro‑Trends → Moves)
* **Leverage tapered, not gone.** Discounts narrowed from **17%** (Aug 18–24) to **6%** (Sep 1–7), but **DOM > 18 months** says: *ask for performance credits tied to condition rather than blunt price cuts*. **Buyers:** turn %‑off into **line‑item reserves**; **Sellers:** preempt with **proof‑of‑value**. ([The Real Deal][2])
* **Condos led (again).** With **10 of 15** deals, condo stacks with brand/amenities still draw bids—**price precision** wins. ([The Real Deal][1])
* **Billionaires’ Row keeps headlining.** **111 W 57th** delivered the week’s top contract; that address continues to anchor demand at the apex. ([The Real Deal][1])
* **Seasonality is your friend.** The week after Labor Day historically prints \~**17** deals; we got **15**. *Quiet markets reward prepared buyers and choreographed listings.* ([The Real Deal][1])
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Relevance Beyond the Week (NYC energy, lifestyle, ROI)
NYC remains a **live‑work‑play‑invest** city where **time arbitrage** matters. August ended strong (92 contracts for the month), but the **post‑holiday air pocket** gives buyers space to breathe, sellers a chance to **re‑stage and relist into strength**, and investors time to **rebalance risk**. ([Mansion Global][3])
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Plays You Can Run This Week
Buyers (and buy‑to‑hold investors)
* **Lead with a “basis memo.”** One page: *cost‑to‑duplicate, stack comps, carry math, exit comps*. If future‑you wouldn’t rebuy your basis, **don’t**.
* **Engineer the give/get:** request **window/HVAC credits, escrowed punch‑lists, or post‑closing reserves** first; protect headline optics for the seller while lowering your real basis. This aligns with a **6%** discount tape but often yields more value. ([The Real Deal][1])
* **Target condo stacks with long DOM**; focus on lines with functional flaws (exposure, layout noise) you can fix with renovation, not location.
Renters
* **Upgrade, don’t just renew.** Use September inventory to price **net‑effective** across two neighborhoods (e.g., *prime Tribeca vs. river‑view LIC*). *Try‑before‑you‑buy* gives better intel than any spreadsheet.
Sellers / Developers
* **Calendar beats sticker.** Prep now; launch into the first **20–30 deal** week to compress discount bands. (Two weeks ago: **22** deals; know when momentum returns.) ([The Real Deal][2])
* **Proof‑of‑value packet:** craftsmanship audit, system logs, operating‑cost deltas vs. comps, and a clean diligence room. *Buyers are paying for certainty.*
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Expert Tips, Techniques, Best Practices
* **Bid weakness, close into strength.** Negotiate now; schedule closing when the ticker heats up.
* **Condos ≠ automatic win.** Board‑ready **co‑op** buyers can be your stealth edge for pre‑war quality and scale.
* **Headline price vs. *true* basis:** trade a smaller number cut for **hard credits** you can bank on day one.
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Pros & Cons (Clear‑eyed view)
**Buying now**
* **Pros:** Lower competition; **6%** avg discount signal; time for thoughtful diligence. ([The Real Deal][1])
* **Cons:** Not every “discount” is value—some listings carry **high fixed burn** or unfixable stack issues.
**Selling now**
* **Pros:** Serious buyers remain; brand towers (e.g., **111 W 57th**) keep drawing capital and comps. ([The Real Deal][1])
* **Cons:** Expect **itemized** asks (credits, reserves). If your narrative is thin, the market will price that risk.
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Data You Can Use (One‑glance facts)
* **15 contracts** (Sep 1–7); **10 condos / 5 co‑ops**; **\$130M total**; **\$8.7M avg / \$6.4M median**; **\~6% discount**; **top**: **111 W 57th** at **\$22M**; **2nd**: **250 West St** at **\$14.5M**. ([The Real Deal][1])
* **Prior weeks:** **22 contracts** (Aug 18–24) with **17% discount**; **16 contracts** (Aug 25–31) and **\$111.5M** volume; **August** = **4th‑best since 2006**. ([The Real Deal][2], [Mansion Global][3])
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Emerging Trends (Near‑term watchlist)
* **Discount bands compress** as fall traffic returns; expect **credits > price cuts** to dominate. ([The Real Deal][1])
* **Brand towers** continue to headline, but **co‑op quality** still trades when board‑ready buyers step up. ([The Real Deal][1])
* **Seasonality arbitrage**: late‑summer softness → early‑fall momentum. Time your list‑to‑accept accordingly. ([The Real Deal][2])
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Conversation Starters (Use with your team this week)
* **“Given the **6%** discount print, which **condition‑tied credits** matter most on this stack?”** ([The Real Deal][1])
* **“If we list into the next **20+ deal** week, what’s our proof‑of‑value packet to cap our give under **5%**?”** ([The Real Deal][2])
* **“What’s the *try‑before‑buy* rental that lets us test school commute + lifestyle now?”**
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Agent Takeaway
Be the **metronome**: your cadence (weekly data + tailored give/gets) converts a quiet week into client wins—and turns **first closings into forever clients.**
Agent Play (Copy/Paste)
1. **Monday 8:30 AM** — Send a 3‑bullet **Olshan** brief (contracts, mix, discount) + “**what it means for us**.” ([The Real Deal][1])
2. **Mid‑Week** — Build a **give/get grid** per listing (price optics ↔ condition credit; closing speed ↔ limited concession).
3. **Friday** — Issue a **basis memo** for each buyer (carry math, exit comps, stack risks).
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Jargon, Simply Explained
* **DOM (Days on Market):** How long a listing has been active; this week’s *typical* luxury home spent **>18 months**, signaling room for negotiation. ([The Real Deal][1])
* **Discount from original ask:** **% difference** between first ask and deal price; **6%** this week vs. **17%** two weeks ago. ([The Real Deal][1])
* **Performance‑based credits:** Seller‑funded dollars tied to specific issues (e.g., window replacement, HVAC), often better than a broad price cut.
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**Ready to play offense?**
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**Sydney Harewood** • Licensed Real Estate Salesperson (NYC)
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**NYCExclusiveApts.com — “Your Premier Bridge to Manhattan Living.”** • **646‑535‑3819**
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Sydney Harewood is a real estate professional with a passion for NYC’s architectural gems. For inquiries, call or message Syd at 📞646-535-3819. Experience the finest in NYC real estate with Syd’s expert guidance and deep knowledge of the city’s most exquisite properties.
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