Manhattans property market has notched another week of plentiful luxury transactions despite a rocky economic environment, according to Olshan Realtys weekly roundup on Monday.
There were 38 contracts signed on homes asking $4 million or morethe reports benchmark for luxuryin the New York City borough during the week ending Sunday.
Collectively, those deals were worth $335.2 million.
It was an impressive total considering the troublesome performance of the stock market thanks to soaring inflation, rising interest rates and the Russia-Ukraine crisis, wrote Donna Olshan, author of the report and president of Olshan Realty.
With 29 finding buyers last week, high-end condos accounted for the bulk of deals alongside seven co-ops and two condos.
The most-expensive contract signed last week was for a more than 6,500-square-foot penthouse unit at the slender supertall 111 West 57th St., an 82-story building on the former site of the Steinway & Sons piano store.
The duplex unit was asking $53.8 million and boasts four bedrooms, soaring ceilings and views over Central Park.
The second-priciest deal last week was for a four-bedroom condo at 155 West 11th St., a five-building complex known as the Greenwich Lane. Asking $22 million, the 3,951-square-foot Greenwich Village spread has floor-to-ceiling windows, city views and a balcony.
Last week signaled a high-end market bounce back from the one prior, a seven-day stretch during which the number of luxury contracts signed in Manhattan declined week over week for the first time this year.