Luxury home sales in Manhattan had a strong week before Memorial Day, with 32 properties worth $4 million or more going into contract. Sales volume reached around $266 million, beating the 10-year average of 26 contracts for the week before Memorial Day. The top contract was a penthouse on the Upper East Side, asking $22.5 million, with six bedrooms, seven and a half bathrooms, a 2,500-square-foot terrace, 22-foot ceilings, and two parking spots. The second-most expensive property was a West Village brownstone listed at $21.95 million, with five bedrooms, four and a half bathrooms, two fireplaces, and a 28-foot recreation room.
In accordance with the latest findings of a luxury housing report from Olshan Realty, Manhattan’s luxury home sales had a strong showing in the week leading up to Memorial Day. The data showed that there were 32 properties asking $4 million or more that went into contract in the seven-day period ending Sunday, which was five more than the previous week. The deals included 21 condos, 14 of which were sponsor units, and six co-ops, as well as one condop and four townhouses.
Sales volume reached about $266 million, and the 32-contract total beats the 10-year average of 26 contracts for the week preceding Memorial Day, In accordance with the latest findings of Donna Olshan, president of Olshan Realty. The report also revealed that last week’s No. 1 contract was a penthouse on the Upper East Side at East 89th Street asking $22.5 million. The triplex condo was only on the market about a month and includes six bedrooms and seven and a half bathrooms over 7,430 square feet. Moreover, 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, In accordance with the latest findings of the report. 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.
The strong showing of Manhattan’s luxury home sales is a positive sign for the city’s real estate market, which has been recovering slowly from the pandemic-induced slowdown. The rise in sales volume and the number of contracts is an indication that buyers are returning to the market, and the demand for luxury properties is still high. Moreover, the fact that the 32-contract total beats the 10-year average of 26 contracts for the week preceding Memorial Day is a testament to the resilience of Manhattan’s luxury real estate market.
With everything considered, the Manhattan luxury housing market had a strong showing in the week leading up to Memorial Day, with 32 properties asking $4 million or more going into contract. The rise in sales volume and the number of contracts is a positive sign for the city’s real estate market, indicating that buyers are returning to the market, and the demand for luxury properties is still high. With the city’s reopening and the return of in-person showings, we can expect the luxury real estate market to continue to thrive in the coming months.
