![[NY Luxury Market Report: 11/23 – 11/29/2020]](https://media-production.lp-cdn.com/cdn-cgi/image/format=auto,quality=85/https://media-production.lp-cdn.com/media/czix8j0vd0fyjnnvo5ig)
As expected with a decline in signed contracts due to the Thanksgiving holiday, fourteen contracts were signed at $4 million and above last week.
The No.1 contract was Unit 101 at 781 Fifth Avenue, asking $22 million. This full-floor co-op unit has approximately 9,000 square feet and includes 5 bedrooms and 6.5 bathrooms plus a 91-foot expanse with a view of Fifth Avenue from the living room, library, and master bedroom. In Sherry Netherland, which operates as both hotel and co-op and offers hotel services to its residents, the unit is on the 2nd floor.
The No. 2 contract was a townhouse at 111 Waverly Place, asking $19.495 million. The sellers purchased this multi-unit building in 2005 and transformed it into a single-family Greek Revival home with 8,500 square feet. The house includes 6 bedrooms, 8 bathrooms, a staff room, an elevator, a landscaped garden, 9 fireplaces, a gym, a movie theater, and a 1000-bottle wine cellar.
This Thanksgiving holiday yielded decent numbers despite the decline from the previous week as Manhattan luxury deals surpassed the 10-year average of 12 signed contracts. By the numbers, the New York real estate market is proving its durability in these uncertain times as the city always have apartments or houses that checks all the boxes for anyone who wants to experience life in the city. With the end of the year approaching and another holiday around the corner, buyers and investors are moving forward to get a contract out instead of waiting before it is too late.
