![[NY Luxury Market Report: 12/07 – 12/13/2020]](https://media-production.lp-cdn.com/cdn-cgi/image/format=auto,quality=85/https://media-production.lp-cdn.com/media/uwdtcy1mkmdl9y7t4dkz)
With condos outselling co-ops, twenty-three contracts were signed at $4 million and above last week.
The No. 1 contract was a combination of 2 apartments sold to one buyer: the penthouse and the 16th floor below at 1228 Madison Avenue, asking $27.85 million, and will be reconfigured into a 6,150-square-foot triplex with views of Central Park. Seven terraces total 1,719 square feet. Designed by architect Robert A.M. Stern, with interiors by Kelly Behun, 1228 Madison Avenue is a new co-op building under construction with 15 units on 18 floors and is slated to be completed by next summer. The amenities include a doorman, a fitness center, a landscaped roof deck, a bike, and private storage, and a pet grooming area.
The No. 2 contract was Loft 2 at 49 Greene Street, asking $9.4 million. This luxurious apartment has 3,834 square feet and is in a new 4-unit condo building that has a part-time doorman and storage.
The month of December has been off to a strong start as Manhattan’s high-end real estate market continues its upward trajectory despite pandemic woes. Given its history, New York City has always proved its ability to bounce back and recover, and buyers and their confidence in the city, as a result of low-interest rates and negotiations, bring a lot of energy and activities to the real estate market. A good sign in these times.
