Trophy Home Deals Rise Amid Manhattan’s Rip-Roaring Rebound

Fifty-one luxury homes in Manhattan went into contract in the week ending Sunday, marking 10 weeks of rip-roaring activity, according to a roundup from Olshan Realty on Monday.

The last seven days notched roughly the same number of signed contracts for homes asking $4 million or more as the whole 13-week shutdown last March, when the Covid-19 pandemic first gripped the city.

In total, luxury deals last week amounted to $454.92 million—the highest single-week volume since 2013, wrote Donna Olshan, president of Olshan Realty and author of the report.

“Downtown led the way with 41 out of 51 signed contracts,” she wrote.

Trophy homes asking $10 million or more also saw a significant week, with 14 homes of that caliber finding buyers. That’s the greatest number of eight-digit deals signed in a single seven-day stretch since the fall of 2014.

The biggest deal last week was a penthouse at One Beacon Court in Sutton Place, asking $29 million, according to the report. The home is owned by hedge funder and New York Mets owner Steven A. Cohen, who once asked $115 million for the duplex when it first hit the market eight years ago.

The five-bedroom home has 9,000 square feet and views to Central Park and the East River.

The second most expensive home to find a buyer last week was also a duplex penthouse, this one in the Upper East Side’s Carnegie Hill neighborhood and asking $21.6 million. The home is located in a new co-op building under construction and designed by Robert A.M. Stern. There are six bedrooms and 6,566 square feet of space.

Article Source: Mansion Global