Manhattan’s luxury housing market experienced its seasonal slowdown ahead of the Labor Day holiday.
In the week ending Sunday, buyers signed contracts for 16 properties priced at $4 million or more, according to Olshan Realty. That figure was down six from the previous week, yet right in line with the 10-year average of 16.5 deals for this time of year.
The top contract of the week was a $14.53 million residence at One High Line in Chelsea. This newly built condo features four bedrooms, four and a half bathrooms, and a sweeping great room with Hudson River views. The twin-tower project, formerly marketed as XI, overcame a $1 billion foreclosure and has since been rebranded. Today, it consistently ranks among Manhattan’s most sought-after luxury developments, offering amenities like a fitness center, a 75-foot pool, a golf simulator, and a children’s playroom.
The second-priciest deal came in at $13.5 million for a residence at 220 Central Park South, a Robert A.M. Stern-designed tower on Billionaires’ Row. The condo features two bedrooms, two and a half bathrooms, and a great room overlooking Central Park. The building is already home to New York City’s record-breaking sale and boasts amenities such as private dining, a basketball court, and an 82-foot saline pool.
In total, luxury contracts signed last week amounted to $111.5 million in sales volume. August closed out as the fourth-best since 2006, with 92 luxury contracts signed across Manhattan.
Luxury living in New York City continues to set the standard for modern elegance, with iconic views and best-in-class amenities driving buyer demand.
