![[NY Luxury Market Report: 09/28 – 10/04/2020]](https://media-production.lp-cdn.com/cdn-cgi/image/format=auto,quality=85/https://media-production.lp-cdn.com/media/d5ouilomaiirdga3pyw8)
Last week, eleven contracts were signed at $4 million and above. When the lockdown began, the luxury market was averaging 4 signed contracts per week. Now, three months after the lockdown ended, the luxury market is averaging 11 signed contracts per week.
The No. 1 contract was the 6th floor at 823 Park Avenue, asking $9.95 million. This condo has 4,184 square feet and includes 5 bedrooms and 4.5 bathrooms, with a 32-foot living room with a gas fireplace and a library overlooking Park Avenue. In this 11-unit condo, the amenities include a doorman, resident manager, and gym.
The No. 2 contract was 4W at 601 Washington Street, asking $8.65 million. This unit has 2,892 square feet and includes 3 bedrooms and 3.5 bathrooms and the master bedroom has a balcony. In this new 10-unit, 9-story condo, this unit has been the 4th sale since March 1. Designed by BKSK Architects, the amenities include a concierge, fitness room, rooftop terrace, and storage.
Without a doubt, the luxury market is seeing more signs of activities in the city as last week’s buyers were New Yorkers. Although many were looking for apartments before the pandemic, things were put on hold. Now, as a result from the lockdown, buyers and investors are bringing their pent-up energy looking for opportunities and deals in the current market.
