[NY Luxury Market Report: 02/01 – 02/07/2021]

Thirty contracts were signed at $4 million and above last week, the largest total since the third week in November 2019.

The No. 1 contract was the 10^th and 11^th floors at 1045 Madison Avenue, asking $27.95 million. The developer, Naftali Group, will be combining the units into a duplex comprised of 8,386 square feet.

Designed in a traditional style by architect Peter Pennoyer, the 15-unit, 18-story new condo building called The Benson is under construction between 79^th and 80^th Street. The amenities include a concierge, roof terrace, fitness center, half-court basketball, a children’s playroom, a library with a garden, and a pet spa. The unit was shown virtually and the buyer never visited the building or the sales office.

The No. 2 contract was 62B at 157 West 57^th Street, asking $19.9 million. This condo unit has 4,193 square feet and includes 3 bedrooms and 3.5 bathrooms. A 42-foot living room, master bedroom, and gallery face Central Park.

Designed by Pritzker Prize-winning Christian de Portzamparc, with interiors by Thomas Juul-Hansen, this 90-story, 90-unit condo was built above the 5-star Park Hyatt Hotel which has a separate entrance for its 210 rooms. The amenities include the use of hotel services, a fitness center, pool, private dining, a library lounge, performance space, and a garage.

The strong totals of contracts signed in the last two weeks have continued their upward trend since after the November election. From COVID-19 vaccines to price discounts coupled with soaring, hot stock market and low-interest rates, buyers are coming out to see what apartments are there in the market that would be right for them.