[NY Luxury Market Report: 02/22 – 02/28/2021]

The luxury market’s remarkable streak of 30 or more deals has extended to 4 weeks in a row as forty contracts were signed at $4 million and above last week.

The No. 1 contract was 17AB at 551 West 21^st Street, asking $25.995 million. Apartment 17AB is 2 units, a 4-bedroom and 3-bedroom, which totals 8,131 square feet, that need to be combined. This 44-unit, 19-story building features an entrance with a drive-in court surrounded by a green wall and a 34-foot-tall lobby with prismatic glass. Designed by Foster + Partners, home of the Pritzker Prize-winning architect Lord Norman Foster. The amenities of this building include a concierge, fitness center, and children’s playroom.

The No. 2 contract was 74AB at 80 Columbus Circle, asking $25 million. This condo unit has 5,323 square feet and includes 6 bedrooms and 6 bathrooms. There is also a 120-foot expanse that overlooks Central Park. The seller purchased 74B from NFL superstar Tom Brady and supermodel Gisele Bundchen in 2011 and then added 74A in 2014. Above the Mandarin Park Hotel, the condo also has access to hotel amenities including a pool and spa.

Last week marked the first time the weekly total hit 40 since the first week in August 2016, when 43 contracts were signed. With a four-week streak, Manhattan’s luxury market has seen the month of February as the best month since 2015. With this continuing trend, and activities picking up, the New York real estate market is seemingly on the rebound as price discounts, as well as the vaccine to roll out in mid-2021, giving a boost of confidence to buyers.