UES Townhouse Market

I am surprised that it even sold for $6.4mm. Not the best location, 15 foot wide and spiral staircase to master bedroom. I do think the townhouse market is down more than 10 percent from the peak (Streeteasy condo index down 6 percent, high end >$5mm down double that; ultra high end >$25mm down 15-20 percent from actual trades not asks) regardless of the location excerp may be in Greenwich and West Village.

Sorry spiral staircase to roof top. So not as negative.

I think the townhouse market was overheated for several years, is being impacted by a large number of new construction units of 3+ BRs, and has seen in a lot of cases a rather extreme advantage in lower Real Estate Taxes dissipate. 30 years ago finding a fully renovated townhouse to purchase was almost impossible (especially Downtown); these days they are somewhat ubiquitous.

Exactly. There are plenty of 4 bed rooms in new developments who are competing for the same buyers and spending far more marketing $s. As discussed in a previous thread, townhouses have very little premium to resale condos in certain parts such as UWS. Brooklyn townhouses still have significant tax advantage over new development in a similar area.