Manhattan’s luxury market continued its hot streak last week.
There were 42 contracts signed for properties asking $4 million or more, according to Olshan Realty’s weekly report. It’s the 14th week that more than 30 luxury deals have been inked.
Transactions have already surpassed 2020 levels, with 237 contracts with more than $2 billion signed in the past five weeks alone. So far this year, 694 luxury properties have gone into contract.
Donna Olshan, the report’s author, called it an “eye-popping” run.
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“We’ve never seen five straight weeks like this,” she said. “This is very solid.”
Of the 237 contracts signed over the past five weeks, 166 of the deals were for condos, 89 of which were units being sold by developers. There were 45 co-ops and 26 townhouses.
Two townhouses in the Village topped the list last week: The largest contract was signed for a townhouse at 26 Bank Street owned by Connie Milstein of the Milstein real estate dynasty. The home hit the market in February asking $19.99 million. Milstein and her brother Philip bought the property in 2017 for $17.85 million. It has a dramatic glass wall that opens onto a rooftop terrace, two fireplaces and a private rear garden.
The runner-up was a townhouse at 22 East 10th Street that has been operating as a five-unit multifamily property. The 5,598-square-foot building was asking $15 million and found a buyer in an off-market sale. It’s unclear whether the buyer will renovate the home and transform it into a single-family home or keep it as a rental property.
The average listing discount across the 42 transactions was 6 percent, with an average of 413 days on the market.