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LUXURY MARKET REPORT
July 19-25, 2021
Thirty-nine contracts were signed last week at $4 million and above in Manhattan, 6 more than the previous week. Once again, the luxury market’s dazzling performance mirrored a couple of trends: stubbornly-low interest rates and a soaring stock market, which registered new closing highs on July 24 on the Dow, the Nasdaq, and the S&P 500.

The No. 1 contract was PHA at 40 East End Avenue, asking $25,500,900. It is a sponsor unit and one of the top sales in the history of East End. The triplex penthouse has 5,949 square feet including 4 bedrooms, 4.5 bathrooms, and 1,866 square feet of outdoor space with a spectacular rooftop terrace, an outdoor kitchen, and 3 more terraces. The buyers were represented by Stephen Geller of Douglas Elliman. Crista Villella, who was part of the onsite sales team at Corcoran Sunshine, said: “The buyers started looking before Covid and ...

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