Mansion Global:

A Promising Start to February for Manhattan Luxury Home Sales

February 7, 2022Download PDFRead Full Article

Manhattan’s luxury real estate market had a strong start to February, surpassing 30 deals within a week for the first time in 2022. There were 40 contracts signed for homes asking $4 million or more in the week ending Sunday, the most this year, and 11 more than previous week, according to Monday’s weekly Olshan Report.The deals included 27 condos, nine co-ops and three townhouses, with a total sales volume of $300.24 million.Last week’s biggest deal was for a condo at 15 Central Park West, which sold within days of its listing with an asking price of $21.95 million. Designed by Robert A.M. Stern, the 3,103-square-foot home has three bedrooms and three-and-a-half bathrooms. The building’s amenities include a 14,000-square-foot fitness center with a 75-foot pool, a landscaped motor court and garage, a private restaurant for residents, a game room, a library, a business center, a children’s playroom and an outdoor terrace.The second most expensive contract was for a full-floor unit at 1165 Madison Ave.,known as The Bellemont, which was also designed by Mr.Stern. The asking price for the condo was $18.75 million, raised from the original price of $18.25 million. It has five bedrooms and six and a half bathrooms, plus 13-foot ceilings. The sales in The Bellemont launched in late October, and since then, nine out of 12 units have sold at asking prices averaging $3,768 per square foot. The building features a concierge, a roof terrace, a children’s playroom, a screening room, a fitness center and a squash court. Condos have been outselling co-ops for years, Ms. Olshan said. “It has a lot to do with the fact that consumers like new products, and they don’t want to renovate.”