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Manhattan's Luxury Home Sales Exceed 10-Year Average

Author Sheridan Wall | 2024.09.30

Manhattan’s luxury market beat the odds in September, though it’s typically considered one of the slowest periods for transactions in the city. 

 

The number of contracts signed for homes in the borough asking $4 million or more dipped last week, but the market last month still managed to outperform the decade-long norm, according to Olshan Realty’s weekly report. During September, buyers inked deals for 97 properties, up from the 10-year average of 71.

 

Despite the uptick over the month, just 18 homes entered contract between Sept. 23 and Sept. 29, down from 27 in the previous week. Of the properties to find buyers, 14 were condos, two were co-ops and two were townhouses.

 

A duplex at the Naftali Group’s 211 West 84th Street building, asking $15.5 million, was the priciest home to land a signed contract. The 5,000-square-foot condo, which was sold off of floor plans, has five bedrooms and four bathrooms. Unit 7A also features double-height ceilings, an eat-in kitchen and wood-burning fireplace. 

 

Sales at the 45-unit building known as The Henry launched this month, led by a team with Compass’ new development arm headed by top broker Alexa Lambert. The Robert A.M. Stern-designed project is expected to be completed by the end of 2026. Its amenities include doormen, a fitness center, pickleball court, bowling alley and rooftop garden. 

Read the full article at the TheRealDeal website
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