The Real Deal
November 8, 2021
Multiple deals at Naftali Group projects top most expensive contracts as Manhattan luxury market stays hot
If pricey condo sales are any indication, the Upper East Side is back.
The affluent uptown neighborhood dominated Manhattan’s luxury market last week, according to Olshan Realty’s report tracking contract signings for homes asking $4 million and up.
For Donna Olshan, author of the report, the results are a resounding vote of approval for a neighborhood that “was never cool.”
“I’m like, ‘Wow, keep it coming,’ because we haven’t been cool in a long time,” said Olshan, who lives in the neighborhood. “Yay for UES.”
The most expensive contract of the week spanned two condos at Naftali Group’s The Bellemont at 1165 Madison Avenue. Both units are full-floor duplexes, which the buyer plans to combine to create a more than 13,000-square-foot, four-level apartment with 2,350 square feet of outdoor space across eight different terraces. The units were last asking a combined $66.5 million.