Manhattan's luxury contracts notch 10-month high

"The borough saw 43 contracts signed for homes asking at least $4 million between March 2 to March 8, for a total contract volume was $422 million, according to a report from Olshan Realty. The total marks the most in a single week since May 2025. There were 23 contracts signed for condos, five for townhouses and 15 for co-ops the most since November 2021."

"The top contract signed last week was for a condo at Extell Development's 50 West 66th Street in the Upper West Side. Unit 53N had an asking price of $35 million. Spanning almost 4,900 square feet, the condo has four bedrooms, five bathrooms and two loggias that add almost 300 square feet of outdoor space."

"The 121-unit tower is almost 80 percent sold, according to Marketproof, and has scored a number of pricey sales in recent months. Unit 41E, a 7,000-square-foot, six-bedroom apartment that closed for over $46 million in December. The 87 closed units have sold for an average of $3,701 per square foot, according to Olshan."

Manhattan's luxury market experienced significant momentum during the week of March 2-8, with 43 contracts signed for properties asking at least $4 million, generating $422 million in total contract volume—the highest weekly total since May 2025. The contracts comprised 23 condos, 5 townhouses, and 15 co-ops, marking the strongest co-op performance since November 2021. Properties had a median asking price of $6 million with an average discount of 9 percent. The top contract was a $35 million condo at 50 West 66th Street featuring nearly 4,900 square feet, four bedrooms, and outdoor loggias. The building is nearly 80 percent sold with strong recent sales performance, including a $46 million closing in December.

Read at therealdeal.com