Manhattan Records Busiest Week for Luxury Home Sales in Nearly Three Years.

Luxury home sales in Manhattan picked up pace last week, with a notable 41 contracts signed on homes asking $4 million or more, according to a roundup from Olshan Realty on Monday. 

Some 26 condos, 10 co-op apartments and five townhouses made up the deals in the seven days ending Sunday in the busiest week for Manhattan’s luxury housing market since early May 2022.  

“The luxury market continues to ride an impressive streak,” wrote Donna Olshan, president of Olshan Realty and author of the report. 

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Much of the activity was in new buildings, with developers selling 20 of the 26 condo deals. 

In total, deals last week amounted to $366.4 million based on their most recent listing price. Units had a median asking price of roughly $6.5 million and an average discount of 16%, evidence that seller flexibility may be one of the factors fueling the market. The average home that found a buyer last week had been on the market for 962 days—or more than two and a half years. 

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The priciest deal inked last week was for a mansion next to a French consular outpost on Fifth Avenue.

The most expensive home to go into contract last week was a Fifth Avenue mansion right across the street from the Metropolitan Museum of Art. The home originally hit the market in mid-2021 for $80 million and found a buyer at a much-reduced price of $49.9 million. The limestone townhouse spans 16,000 square feet with 10 bedrooms, seven full bathrooms and five kitchens. 

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By contrast, the second- priciest deal inked last week was for a West Village condo that found a buyer after getting a price increase. The developer of 140 Jane Street began marketing the 4,590-square-foot unit in September for $20.5 million and put it into contract asking $22 million. The apartment will have four bedrooms, 4.5 bathrooms and a conservatory when completed.