[NY Luxury Market Report: 04/26 – 05/02/2021]

A slight dip, but the streak of 30 or more deals continues to 13 weeks! With forty-one contracts signed last week at $4 million and above.

The No. 1 contract was PH78B at 30 Park Place, asking $29.5 million. This duplex condo has 5,937 square feet and includes 5 bedrooms, 6.5 bathrooms, and a large eat-in kitchen. The living room and formal dining room open onto a loggia that totals 434 square feet.

Designed by Robert A.M. Stern, 30 Park Place is an 80-story building and has a Four Seasons Hotel on the bottom, and above it are 22 floors with 157 condos. The amenities include a fitness center, a 75-foot swimming pool, a children’s playroom, and a private dining room. This condo is one of the last sponsor units.

The No. 2 contract was PH11A at 150 East 78th Street, asking $20 million. This duplex penthouse has 4,593 square feet and includes 5 bedrooms and 5.5 bathrooms. A 23’ x 26’ living room with a fireplace is surrounded by North and South terraces that total 594 square feet. The terraces can also be accessed from the formal dining room and the 5th bedroom/library. There are 4 bedrooms with en-suite bathrooms and a large laundry room upstairs.

Another building designed by Robert A.M. Stern, 150 East 78th Street is a new 25-unit on 16 floors condo building developed by Midwood Investment & Development and EJS Group. The amenities include a fitness center, golf simulator, regulation squash court, rooftop terrace, lounge, and children’s playroom.

The past consecutive weeks of 30 or more contracts signed have reinforced the re-emergence of buyers who are joining in on the buying frenzy, scooping up new homes, as favorable prices due to discounts remain. To compare, during the same week a year ago, there was only 1 contract signed. With bargain prices in the market driving prospective buyers to grab a great opportunity deal before prices go up, this summer is certainly becoming the craziest season of this year.