[NY Luxury Market Report: 03/08 – 03/14/2021]

The luxury market’s streak of 30 or more deals continues to 6 weeks in a row as thirty-eight contracts were signed at $4 million and above last week.

As reported by The Wall Street Journal, the No. 1 contract is a townhouse at 12 East 69^th Street, asking $79 million. The house is owned by billionaire Vince Viola, who purchased the house in 2005 and then renovated it. The 40-foot-wide, 6-story house has 20,000 square feet and features an indoor saline swimming pool, gym, and a duplex cinema.

The Wall Street Journal reported that the deal was inked around $60 million, surpassing the No. 1 contract that closed last week on 9 East 71st Street, which was the 28,000 square foot former Upper East Side mansion of the late financier and accused sex-trafficker, Jeffrey Epstein.

The No. 2 contract was PH18/19A at 15 Central Park West, asking $57.9 million. This duplex condo has 5,902 square feet and includes 4 bedrooms, 6.5 bathrooms, a library, and an internal elevator. On the 18^th floor, a 1,000-square-foot terrace surrounds a corner living room with a gas fireplace, a library, an entrance gallery, and a formal dining room. Upstairs on the 19^th floor are the bedrooms, including a master suite that opens onto a balcony and sitting room. The unit has spectacular views of Central Park.

Designed by Robert A.M. Stern and completed in 2007, the amenities of 15 Central Park West include a 14,000-square-foot fitness center with a 75-foot pool, a private restaurant for residents only, a landscaped motor court and garage, library, business center, game room, outdoor terrace, and children’s playroom.

The past six successive weeks in which 30 or more contracts had been signed at $4 million or more shows a beginning of a return to a robust market. Looking forward to spring, we may see a gradual ascent and competitiveness as the market is fueled by low-interest rates, price discounts, a big stimulus package, greater negotiability, and people increasingly getting vaccinated. Now is a good time to be a buyer, and the window of opportunities to get a great pandemic deal may be closing in soon.