[NY Luxury Market Report: 08/17 – 08/23/2020]

[NY Luxury Market Report: 08/17 – 08/23/2020]

[고급 부동산시장 보고서, USD $4백만 이상:  08/17 - 08/23/2020]

It’s been awhile, but for the first time in the last 4 weeks, the total number of contracts signed hit over the 10-mark. Last week, 14 contracts were signed at $4 million and above.

The No. 1 contract was 8/9B at 655 Park Avenue, asking $12.8 million. This co-op has about 5,800 square feet, and includes 7 bedrooms, 7 bathrooms, a formal dining room, library, gym, and a sunroom. In addition, the top-floor features a 3,000-square-foot terrace. The 15-room duplex is owned by Massimo Ferragamo, the youngest son of Salvatore Ferragamo, who founded the namesake Italian fashion brand. The unit is comprised of two separate apartments that Ferragamo combined purchased after purchasing them in the mid-1990s.

The No. 2 contract was 61WEST at 111 Murray Street, asking $12.4 million. This condo has 4,014 square feet, and includes 5 bedrooms and 6.5 bathrooms. It is a half-floor corner unit featuring 11-foot ceilings and north, south, and west views of the city and Hudson River. The amenities in this building include a fitness center, 2 pools, a resident’s lounge, and a children’s playroom.

Getting better than the previous weeks, the real estate market is springing back to life and action as more contracts are being signed. There have been news, opinions, and discussions whether or not New York City is dead, or if the city can survive through the effects of this pandemic like it has done with other historical events before, but as the number of contract are increasing, the real estate market in the city is reinforcing the fact that people are vying and driven to still find a place to live in the city.