Manhattan’s luxurious market cooled off final week following a burst of dealmaking round New York Metropolis’s mayoral election.
Consumers signed contracts for simply 25 properties asking $4 million or extra between Nov. 10 and Nov. 16, in accordance with Olshan Realty’s weekly report. Although the full was considerably lower than 41 contracts within the previous period, the variety of pending offers was on par with final yr’s weekly common.
Even with the dip, 2025 is shaping as much as be the second-best yr for the borough’s luxurious market since Olshan started monitoring offers practically 20 years in the past. Thus far this yr, patrons have signed contracts for greater than 1,320 luxurious properties, up from underneath 1,300 in all of 2024.
The costliest residence to land an inked deal was a penthouse on the Naftali Group’s 255 East 77th Street, asking $24 million. The 5,500-square-foot apartment, which hit the market in August, has six bedrooms and 6 loos.
Unit PHC additionally contains a formal eating room, views of Central Park and two loggias. It’s considered one of 62 models within the Higher East Facet improvement, 51 of which have discovered patrons with asking costs averaging roughly $2,800 per sq. foot.
Facilities within the Robert A.M. Stern-designed constructing embody a health middle, sauna, pool and porte-cochere. Gross sales on the improvement, which launched final yr, are headed by a staff with Compass’ improvement advertising and marketing arm, together with Alexa Lambert, Alison Black and Shelton Smith.
The second priciest residence to discover a purchaser was a apartment at 160 West 12th Street, asking $15 million. The condo, which hit the market in September, final traded for $10 million in 2016.
Unit 104 spans 2,900 sq. toes and has three bedrooms and three loos. It additionally contains a landscaped terrace, wood-paneled library and windowed chef’s kitchen. Facilities within the constructing, often called the Greenwich Lane, embody a pool, scorching tub, health middle and golf simulator.
Compass’ Michael Johnson and Hayim Nommaz of the Johnson & Nommaz Group had the itemizing.
Of the 25 properties, 17 have been condos, 4 have been co-ops, one was a condop and three have been townhouses.
The properties requested a mixed $197 million, which works out to a median worth of $7.9 million and a median of $6.9 million. The standard residence was available on the market for practically two years and had a reduction of 4 p.c.
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