[NY Luxury Market Report: 11/16 – 11/22/2020]

Last week, twenty-five contracts were signed at $4 million and above, three more than the previous week.

The No. 1 contract was a PHC at 1045 Madison Avenue, asking $22 million. This is the second week in a row in which the No. 1 contract was a penthouse at 1045 Madison Avenue. This penthouse duplex has 3,780 square feet and includes 3 bedrooms and 3.5 bathrooms. Additionally, there are three terraces, which totals 676 square feet, coming off the living room, kitchen, and master bedroom. Designed in a traditional style by architect Peter Pennoyer, the 15-unit, 18-story new condo building called The Benson is under construction between 79^th and 80^th Street. The amenities include a concierge, roof terrace, fitness center, half-court basketball, a children’s playroom, a library with a garden, and a pet spa.

The No. 2 contract was 15/16F at 300 Central Park West, asking $19.999 million, and this year’s most expensive co-op to sell on the Upper West Side. This duplex has 4 bedrooms, 5 bathrooms, 2 powder rooms, and a den plus a 47-foot terrace off of the living room with a great Central Park view. In the famed El Dorado, a twin-towering art deco built around 1930, the amenities include doormen, concierge, a gym, and a garage.

The number of contracts signed a week before Thanksgiving has usually been big for the luxury market. Although this year’s numbers have not been close to last year’s 30, New York real estate is continuing to demonstrate that, despite an ongoing pandemic, the city is not dead. In fact, buyers, particularly families, are looking for bigger spaces now that everyone is at home. But let’s not forget, this amazing city continues to prove its resiliency in these times as many still want a slice of making New York City their residence.