[NY Luxury Market Report: 01/18 – 01/24/2021]

Last week, fourteen contracts were signed at $4 million and above. The last 5 weeks garnered 90 contracts signed at $4 million and above and was the strongest 5-week holiday period since 2017.

The No. 1 contract was PH at 37 East 12^th Street, asking $19.950 million. This triplex condo has 6,325 square feet and includes 4 bedrooms and 4.5 bathrooms. The top floor has a rooftop terrace with 1,188 square feet. The amenities include a doorman, gym, and storage.

The No. 2 contract was PHS at 262 Central Park West, asking $19.75 million. This penthouse co-op has 3 bedrooms, 4.5 bathrooms, and a library. There is a 2,500-square foot terrace that wraps around the apartment. Also, the living room, dining room, library, and kitchen open onto a terrace that spans 95-feet overlooking Central Park.

Although the numbers of contracts signed were fewer than the previous weeks, the numbers are in line with the same week in January in past years. Last year, 15 contracts were signed; in 2019: 11 contracts; 2018: 15 contracts; and in 2017: 13 contracts. During this pandemic raged economy, sellers are pricing their products sharply to move their properties faster. As buyers, particularly families, are looking for more rooms and space, many are taking the opportunity to buy right now in the real estate market.