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  • Kermit Brown

Market for $10 Million-Plus Homes in Manhattan Logged Best Week in Eight Years

Meanwhile, 50 high-end homes asking $4 million or more went into contracts last week, with a total value of $484 million.

By Fang Block | Mansion Global

Manhattan’s luxury real estate continues its winning streak, with 50 contracts signed last week priced at or above $4 million—the third time this year deals reached 50 or more, according to the weekly report by Olshan Realty.

The contracts, signed from Oct. 18- 24, had a combined value of approximately $484 million, the highest weekly total of this year and the highest since the week of Dec. 16-22 in 2013, the report said.

During the prior week, ending Oct. 17, there were 41 luxury contracts signed across Manhattan, with a total value of $329 million.

Additionally, 16, or 32% of the 50 luxury contracts signed last week had a price of $10 million or above. That’s also the highest level since the week of March 11-16, 2013, according to the report.

Condos accounted for the largest share of the mix of luxury contracts, with 42 such deals. Only five co-ops and three townhouses were new pending sales during the week ending Sunday.

The highest-priced contract was a penthouse at 443 Greenwich St., a boutique luxury condo in Tribeca that has many celebrity residents, including Jake Gyllenhaal, Meg Ryan, Harry Styles, Justin Timberlake and Jessica Biel.

The penthouse, listed in February 2019 for $57 million, found a buyer with a final asking price of $49.5 million. It has more than 8,900 square feet of living space with six bedrooms, six bathrooms, a 3,246-square-foot terrace with a plunge pool and summer kitchen. Two parking spaces were also included in the sale.

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