🏒 Manhattan Market Report – May 2023πŸ“ˆ

🌟 Manhattan Luxury Home Sales Log Best Week in 12 Months πŸŒŸ

Luxury home sales in Manhattan had their strongest week of the year so far, with an impressive surge in activity. According to the luxury Manhattan housing report from Olshan Realty, 40 properties with asking prices of $4 million or more went into contract last week, surpassing any other week in 2023.

Key Highlights:

βœ… Record-breaking Sales: Sales volume reached an impressive $300.44 million, indicating a significant increase from the previous week’s $242.8 million. The total sales included 29 condos, 5 co-ops, 2 condops, and 4 townhouses, reflecting a diverse range of luxury properties in high demand.

βœ… Market Momentum: This exceptional week in Manhattan’s luxury real estate market signals a strong rebound in buyer confidence and market activity. The sales surge indicates an upward trajectory for the market, potentially setting the tone for a robust year ahead.

βœ… Sponsor Sales: The remarkable increase in sales activity can be attributed, in part, to the surge in sponsor deals. The report highlights 16 sponsor sales, representing the highest number of sponsor deals in a year. This surge in new development sales adds to the overall market momentum.

🏒 Notable Deals:

πŸ”Έ 15 Central Park West Condo – $36.5 Million: The top deal of the week was a magnificent 3,173-square-foot condo located at 15 Central Park West. Designed by Robert A.M. Stern, this luxurious residence offers three bedrooms, three and a half bathrooms, a library, and a great room with breathtaking park views.

πŸ”Έ West Village Penthouse – $17.5 Million: Another notable deal was a stunning penthouse on Barrow Street in the West Village. With an asking price of $17.5 million, this duplex condo features four bedrooms, four and a half bathrooms, a 30-foot great room, and a spacious 2,000-square-foot terrace. Located in the Keller, a new boutique building, this property has garnered significant attention and demand.

πŸ”Έ The Keller at West Village: The Keller, the aforementioned new boutique building in the West Village, reported four signed contracts last week, all exceeding $4 million. The sales team noted that over 50% of the building has already sold, showcasing the strong demand for luxury properties in this desirable neighborhood.

These impressive results demonstrate the resilience and appeal of Manhattan’s luxury real estate market. Buyers continue to show a strong appetite for exclusive properties, both within iconic buildings and in new developments.

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