In New York City's luxury real estate market, condo sales have seen a significant increase, up 35% from the previous year, with 131 units sold for over $4 million in March 2025. Despite stock market volatility, buyers continue to seek luxury properties, though concern over renovation costs impacts their decisions. Recently, 33 contracts for luxury properties were signed in just one week. The top listing featured a luxury condo at 140 Jane St. priced at nearly $20 million, with several high-end amenities, although the building's completion is expected in 2026.
"The luxury market has held up surprisingly well since the beginning of the year considering huge stock market volatility," Donna Olshan, president and real estate broker with Olshan Realty, tells Realtor.com.
The demand in the luxury market is evident as the report reveals 33 contracts were signed in just a week (April 14-20) in Manhattan for properties listed at $4 million and above.
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