Contracts for Manhattan new development residences priced over $4 million rose precipitously in October, according to a new report from real estate data sites Marketproof (https://marketproof.com/) and UrbanDigs (https://www.urbandigs.com/). Deals for these high-tier residences rose by 352% year-over-year in October, from 21 sales in October 2020 to 95 in October 2021. Deals for Manhattan resale condominiums priced over $4 million rose 185% in the same period of time, from 35 to 100.
The median asking price in Manhattan also saw a jump to $3.6 million, representing a 71% increase year-over-year and a 52% increase from September. Marketproof’s Kael Goodman points to 200 East 83rd (https://200east83rd.com/), the new luxury residential project designed by Robert A.M. Stern Architects and developed by the Naftali Group and Rockefeller Group, which reported 35 contracts ranging from $3.6 million to $11.5 million, as an impetus for the increase.