[NY Luxury Market Report: 05/31– 06/06/2021]

[NY Luxury Market Report: 05/31– 06/06/2021]

  • Maggie Huang
  • 06/7/21

There were 31 contracts signed last week at $4 million and above, which is 9 fewer than the previous week.

The No. 1 contract was PHA at 895 Park Avenue, asking $29.5 million. This penthouse duplex has 6 bedrooms, 6.5 bathrooms, 5 fireplaces, and a sunroom and landscaped terraces with views of Central Park.

This is the 2nd time in the last 4 weeks that a co-op reached the No.1 spot and is the highest co-op contract so far this year.

The No. 2 contract was the Mansion at 21 East 61st Street, asking $27.5 million. This townhouse-style co-op has 9,742 square feet spanning 5 floors and includes 6 bedrooms, 6 bathrooms, 2 powder rooms, 3 terraces, and an elevator. The top floor needs to be renovated and does not have bedrooms and bathrooms.

Formerly Carlton Hotel, this building was converted into a co-op in 2013. Amenities include a doorman and concierge, a 65-foot swimming pool, a fitness center, a bike room, and storage.

Last week’s total, with 5 townhouse contracts signed, extended the streak of 30 or more deals to 18 weeks in a row! So far, the year-to-date total of 95 townhouse deals surpassed the previous highest total from January-to-June in 2015, when 72 townhouse contracts were signed. With the pandemic attracting more buyers to upgrade for larger space, extra room for home office, and outdoor space, New York real estate doesn’t seem like it will be slowing down in the summer.

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