Blog

Nov 23, 2023

Manhattan’s Summer Slide Continues as Luxury Home Deals Hit a Six

Delivers the most important property news around the world to your inbox each weekday Last week, Manhattan’s luxury market recorded 19 signed contracts at $4 million or more—the slowest week in six

Delivers the most important property news around the world to your inbox each weekday

Last week, Manhattan’s luxury market recorded 19 signed contracts at $4 million or more—the slowest week in six months, according to Monday’s report from Olshan Realty.

That total—made up of 13 condos, two co-ops, one condop and three townhouses—is three fewer than last week and the lowest number of contracts since the last week of January, when 15 deals were made.

Despite three fewer sales, the weekly volume bounced back slightly from the prior week with a total of $163.37 million.

More: Developers Are Racing to Give Affluent Buyers the Gift of More Free Time

The most expensive contract signed last week was for a West Village townhouse. Located on Bank Street, the home was listed in April for $27.5 million, but was most recently asking $25 million. The five-story, 20-foot-wide townhouse has four bedrooms and five and a half bathrooms. Features include an elevator, a garden, a saltwater pool in the basement and a fifth-floor library with a double-height ceiling and a domed skylight that opens to the south-facing roof deck.

The second-priciest deal of the week was a 15th-floor condo in the new Mandarin Oriental building on Fifth Avenue. Asking just over $22 million, the condo spans 3,374 square feet and has two terraces, one overlooking Fifth Avenue and a glimpse of Central Park. The three-bedroom unit was purchased by a foreign buyer who also owns a Mandarin residence in Europe, the report said.

The new-build is offering furnished units, even including details like dishes and linens. Amenities include a private restaurant, an outdoor pool and a fitness center.

Shares the stories you may have missed from the world of luxury real estate