[NY Luxury Market Report: 07/19– 07/25/2021]

Rising again, the number of contracts signed for $4 million and above properties was at 39 last week, 6 more than the week before. A booming stock market, coupled with low interest and mortgage rates, make for a very attractive market in Manhattan.

The No. 1 contract was PHA at 40 East End Avenue, which sold for $25,500,900. It is a sponsor unit and made history as one of the top sales in East End. This 5,949 square feet triplex penthouse has 4 bedrooms, 4.5 bathrooms, and a combined outdoor space of 1,866 square feet. A dazzling rooftop terrace, an outdoor kitchen, and 3 additional terraces adorn the exterior of this penthouse.

40 East End Avenue, designed by the dean of the Yale School of Architecture, Deborah Berke, consists of 28 units across 18 floors. The building’s amenities include a doorman, fitness center, game room, and a library/lounge.

The No. 2 contract was a townhouse at 116 East 70th Street, which sold for $23 million. Since 2012, the house has traded 4 times, with prices ranging from $19 million to $31 million. The seller, developer David Edelstein, bought the house for $19 million in 2016. This 5-story, 6,500 square foot house, has 5 bedrooms, 4 bathrooms, 5 powder rooms, and an elevator. This impressive building shows off 2 floors of copper bay windows, along with a landscaped south garden and terraces off the 2nd-floor dining room and a 4th-floor bedroom. The buyers are from New York.

It was great to see the number of contracts signed for $4 million and above properties rise over 30 again after the temporary dip recently, this shows that the market is still on the rise!