![[NY Luxury Market Report: 12/28/2020 – 01/03/2021]](https://media-production.lp-cdn.com/cdn-cgi/image/format=auto,quality=85,fit=scale-down,width=1280/https://media-production.lp-cdn.com/media/mjonkiqbel7jzzyjnv7l)
As the largest post-Christmas turnaround since 2006, seventeen contracts were signed at $4 million and above last week.
The No. 1 contract was PHA at 20 East End Avenue, asking $35 million. This condo unit has 6,050 square feet and includes 5 bedrooms and 5.5 bathrooms. There are 5 terraces that total 4,542 square feet, with the upstairs roof terrace featuring a wood-burning fireplace and stone archway. The unit has 12-foot ceilings and river views. 20 East End is a new limestone condo with 43 units on 17 floors. The building was completed in 2016 and was designed by Robert A.M. Stern. The amenities include a concierge, drive-in motor court, a fitness center, a private dining room with wine storage, a game room, and a kids’ lounge.
The No. 2 contract was a townhouse at 292 West 4th Street, asking $16.3 million. This 20-foot-wide, 4-story house has been gut renovated and includes 4 bedrooms, 4.5 bathrooms, 5 fireplaces, and a gym. Although the house does not have an elevator, it does have a garden and rooftop solarium with 2 terraces, including one with a hot tub and an outdoor shower.
The year 2020 took the New York City real estate market through some twists and turns as a result of the pandemic. However, as the economy reopened in the summer, buyers have made a comeback as in-contract deals began to rise, particularly in Brooklyn, as well as sellers willing to negotiate a deal. With 2021 already underway, buyers are taking advantage of the current market before things return to pre-pandemic levels.
