[NY Luxury Market Report: 03/01 – 03/08/2021]

Thirty-six contracts were signed at $4 million and above last week, continuing the streak of 30 or more deals five weeks in a row.

As reported by The Wall Street Journal, the No. 1 contract is a townhouse at 9 East 71^st Street, asking $65 million. As one of the largest private residences in New York, this 7-story, 50-foot-wide limestone mansion has 28,000 square feet. The former Upper East Side home of the late financier, Jeffrey Epstein, who committed suicide in a New York jail in August 2019 while being held on sex trafficking charges.

The No. 2 contract was PHC at 7 Hubert Street, asking $17.85 million. This penthouse has 4,262 square feet and includes a 36-foot great room, 2 bedrooms, a library, a formal dining room, an eat-in kitchen, 3 fireplaces, and a terrace. The seller was philanthropist Courtney Ross, who founded the Ross School in Easthampton in 1991.

This is the fifth consecutive week in which 30 or more luxury contracts were signed and the real estate market is showing no signs of slowing down as the city recovers. Price discounts and the good news of vaccines against COVID-19 are having people feeling confident and safe to go out. In the past 11 weeks, 56% of condos were sold by developers.