Manhattan's luxury market perks up for busy fall

"For buyers and sellers of Manhattan's luxury properties, the fall season is on track to live up to its reputation as a typically busy period for the market. Buyers signed contracts for 31 homes in the borough asking $4 million or more last week, up from 30 in the previous period, according to Olshan Realty's report. The totals marked the first time since early June that 30 or more properties landed inked deals in two consecutive weeks."

"A condo at Extell Development's Central Park Tower was the priciest home to snag a contract, with an asking price just under $55 million. The 121st floor of 217 West 57th Street, which initially asked more than $65 million when sales launched in 2018, sold to a domestic buyer in an all-cash deal, sources told The Real Deal. Sources added that the full-floor unit will likely close at a price closer to a similar condo on the 116th floor,"

Manhattan's luxury market accelerated into fall, with buyers signing 31 contracts last week for properties asking $4 million or more, up from 30 the prior week and the first back-to-back weeks of 30-plus deals since early June. The priciest contract was a full-floor condo at Central Park Tower asking just under $55 million; the 121st-floor unit initially asked more than $65 million in 2018 and sold in an all-cash domestic transaction. A comparable 116th-floor unit had asked $53 million and closed at $46 million in April. Central Park Tower offers high-end amenities and has sold roughly two-thirds of its 178 units. Sales teams from Gary Barnett's in-house group and Corcoran Sunshine are handling Central Park Tower listings. A 3,100-square-foot condo at 15 Central Park West, unit 29A, entered contract asking $25 million and features three bedrooms, three bathrooms, a library and a formal dining room.

Read at therealdeal.com