Manhattan Luxury Real Estate Activity Rises to Highest Level Since June

Contract signings for luxury properties in Manhattan reached their highest weekly total since June, according to Realtor.com. Buyers signed 36 contracts for residences priced at $4 million and above last week. That total represents an increase of eight contracts compared with the previous week, despite a proposed municipal tax on second homes valued above $1 million. [1]

Realtor.com reported that the Upper East Side recorded the highest volume of luxury transactions in the borough. Condominiums led sales over cooperative units, with 19 condo contracts signed compared to 13 co-op deals, narrowing the typical market gap between the two asset classes. While co-ops usually involve complex board approval requirements, they generally sell at lower prices than condos. [1]

The transaction data highlights resilience in the top-tier residential market, where high-net-worth buyers continue to secure units despite pending regulatory changes. The luxury market figures reflect data gathered in the recent Olshan luxury report. [1]