Downtown Manhattan is coming off a strong week for luxury home sales, according to the latest weekly report from Olshan Realty.
Two-thirds of the luxury contracts signed for homes priced at $4 million or more were in lower Manhattan—or 21 out of 32. Overall, the luxury market saw another strong week last week, with condo units leading the show, according to the report released Monday.
Affordable luxury dominated Manhattan’s high-end activity, part of a continuing trend toward less expensive homes on the luxury spectrum. Half of contracts last week were for homes $5 million or less.
“If you need yet another example that we are in the midst of a price-sensitive market, here it is,” said Donna Olshan, president of Olshan Realty, in the report.
The most expensive contract was for a penthouse in the West Village at 155 West 11th St., asking just shy of $13 million. The 2,300-square-foot condo has two bedrooms and two-and-a-half bathrooms, plus two terraces, totaling 1,800 square feet.
The second most expensive unit to find a buyer last week was for an Upper East Side co-op asking $12 million. A 30-foot corner living room overlooks Central Park, as do four of the home’s five bedrooms.
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