Manhattan Closes in on Five Months of Robust Residential Sales

That’s the 20th consecutive week in which there were at least 30 residences for more than $4 million that went into contract, according to Donna Olshan, president of Olshan Realty and the report’s author. 

“The strength of the luxury residential market is even more remarkable when you consider that we are heading into the malaise of summer, a time when the market usually tapers off,” she said in the report.

The biggest deal was a 4,814-square-foot duplex condo at 220 Central Park South asking $49.5 million, according to the report. The four-bedroom, five-and-a-half bathroom home has a 35-foot living room, primary bedroom and second bedroom facing Central Park. The seller, a car dealership owner, bought the unit at the Robert A.M. Stern-designed building off floor plans in 2015, closing for $38.2 million in 2019. 

Next was a five-bedroom, five-bathroom, two-powder room triplex at 378 West End Avenue that was listed at $26 million, the report said. It has 6,169 square feet of interior space, plus an additional 1,349 outside. That includes a roof deck and terraces off the library, living room and kitchen. New York City-based architecture firm CookFox is designing the Upper West Side building, which will meld a historic structure with a new 18-story tower. Alchemy Properties is the developer.