Report: Manhattan Luxury Home Sales Continue to Trend Upward 20 or More Sales Continue for the Sixth Straight Week

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A penthouse in United Nations Plaza was among 23 Manhattan luxury residential properties listed at $4 million or more that signed into contract last week. It marked six straight weeks of 20 or more sales, according to Oshan's latest report.

The aforementioned penthouse at 50 United Nations Plaza,  with an asking price of $26.25 million, was the number one contract for the week of May 27 to June 2. Measuring 5,893 square feet, the full-floor condo unit contains five bedrooms and six-and-a-half bathrooms. It also comes with such features as 11-foot-high ceilings, Sivec white marble floors, and views of the East River. The 88-unit condo building's amenities include a fitness center and an attended lobby. 

A townhouse located at 9 East 84th Street came in second in Olshan's report when it entered into contract for the price of $21,975,000. It was previously damaged in 2017 due to a fire from a neighboring townhouse, but it has since been repaired. 

Other condos that signed into contract last week include a four-bedroom/four-and-a-half-bathroom penthouse at 5 East 17th Street ($15.5 million); a four-bedroom/five-bathroom unit at 1010 Park Avenue ($15 million); and a four-bedroom/four-and-a-half-bathroom apartment at 90 Morton Street ($9.6 million).

Only one co-op -- a four-bedroom/four-bathroom unit -- sold last week for $5,295,000, the first time that has happened since the last week of January, said Olshan.  

According to Mansion Global, declining interest rates since early 2019 have contributed to this current buying boom, which is welcomed news to a luxury market that had been cooling.

David Chiu is an associate editor at The Cooperator. 

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