Manhattan’s luxury real estate market continues to break records.
The number of contracts signed on homes asking for $4 million or more in the first 12 weeks of 2022 broke the record set last year at the same time.
There were 33 contracts signed at that price level and above in Manhattan in the week ending Sunday, two less than the previous week, according to Monday’s report from Olshan Realty.
The contracts included 21 condos, 10 co-ops and two townhouses. The weekly sales volume was $267.295 million.
They brought the total number of luxury contracts signed in the first 12 weeks of this year to 394, four more than in the first 12 weeks of 2021, which was the record. However, the total sales volume dropped from nearly $3.322 billion to $3.01 billion.
Fewer contracts signed on trophy homes asking for more than $10 million affected the decline in total sales volume, the report noted.
The change in sales volume can also be attributed to the change in inventory and stock market volatility, Donna Olshan, president of Olshan Realty and author of the report, told Mansion Global.
The most expensive contract signed last week was for an Upper East Side penthouse asking for $29.35 million. The 6,548 square foot residence features five bedrooms and five and a half bathrooms. The living room and dining room open onto the two terraces which total 336 square feet of outdoor space.
The 31-unit condominium building on East 79th Street was designed by Steven Harris Architects, with amenities including a doorman, gym, golf simulator, game room, spa and squash court that can also be converted into a basketball court. Construction of the building is expected to be completed later this year, and 22 of the 31 units have already found buyers.
The second most expensive deal was a townhouse in the West Village, with the asking price reduced from $20 million to nearly $19 million. The six-story residence totaling approximately 7,900 square feet is divided into six apartments. Built in 1818 and redesigned by Emilio Levy in 1929 for C. Rosenthal and Anita Parkhurst Wilcox, the house requires renovations, according to the report. The building also includes access to Bleecker Gardens, a garden shared by 13 neighboring houses.