Manhattan’s luxury housing market saw a strong week before Memorial Day, with 32 properties priced at $4 million or more going under contract, generating approximately $266 million in sales volume. The sales numbers exceeded the 10-year average of 26 contracts for the week before Memorial Day. The majority of the deals were for condos, including 14 sponsor units, along with six co-ops, one condop, and four townhouses. The top sale was a penthouse on the Upper East Side priced at $22.5 million, while the second-most expensive property was a West Village brownstone listed at $21.95 million.
As highlighted by a luxury housing report from Olshan Realty, Manhattan’s luxury home sales had a robust showing in the week leading up to Memorial Day. The data showed that 32 properties asking $4 million or more went into contract in the seven-day period, which is five more than the previous week. The deals included 21 condos, six co-ops, one condop, and four townhouses. The sales volume reached about $266 million.
Donna Olshan, the president of Olshan Realty, said in the report that “The 32-contract total beats the 10-year average of 26 contracts for the week preceding Memorial Day.”
The penthouse on the Upper East Side at East 89th Street asking $22.5 million was the most expensive Manhattan property last week, As highlighted by Olshan. The triplex condo was only on the market for about a month and includes six bedrooms and seven and a half bathrooms over 7,430 square feet. There’s also a more than 2,500-square-foot terrace, 22-foot ceilings and views in all directions, and two parking spots were included in the deal.
The second-most expensive Manhattan property last week was a brownstone in the West Village on West 12th Street listed for $21.95 million, the report said. Fresh from a four-year renovation, the four-story residence offers 5,100 square feet with five bedrooms, four and a half bathrooms, two fireplaces, and a 28-foot recreation room. Outside, there’s an additional 1,500 square feet of space, including a roof deck, a garden, and a terrace off the primary bedroom.
As the final analysis, the week preceding Memorial Day was a strong one for luxury home sales in Manhattan. The 32-contract total exceeded the 10-year average, and sales volume reached an impressive $266 million. With properties like the Upper East Side penthouse and the West Village brownstone, it’s clear that the luxury housing market in Manhattan is still going strong.
