[NY Luxury Market Report: 04/05 – 04/11/2021]

A breaking fifty-one contracts were signed last week at $4 million and above, once again extending a record-breaking luxury market streak of 30 or more deals to 10 weeks in a row. What’s more, last week’s total numbers were about equivalent to all the contracts signed at $4 million and above in the 13-week lockdown last year.

The No. 1 contract was PH51/52 at 151 East 58th Street, asking $29.5 million. This duplex penthouse, at Beacon Court Condominium, has 9,000 square feet and includes 5 bedrooms and 6.5 bathrooms with gorgeous views of Central Park, the East River, and the Hudson River. The unit features a 24-foot-high ceiling in the living room, a 2,000-square-foot master suite, and a chef’s eat-in kitchen. The apartment was designed by the late great architect, Charles Gwathmey, and is owned by hedge fund manager and Mets’ owner, Steven A. Cohen.

The No. 2 contract was Duplex PH at 1228 Madison Avenue, asking $21.6 million. This apartment has 6,566 square feet and includes 6 bedrooms, 6.5 bathrooms, and a 184-square-foot terrace off the gallery, with views of Central Park, the Jacqueline Kennedy Onassis Reservoir, as well as the Midtown skyline.

Designed by architect Robert A.M. Stern, with interiors by Kelly Behun, 1228 Madison Avenue is a new co-op building with condo rules. The building has 15 units on 18 floors.

The city is alive! The low prices combined with low-interest rates have certainly revitalized buyers to see what is available in the market and make sure to get their bite of the opportunity before it’s too late. As the market gained momentum in the past 3 months, many of the trends, such as terraces, to be nearby schools for their children, and home offices have attracted buyers. With fifty-one contracts last week and New York gradually coming back to life, we can expect the market to become competitive soon.