Pent-up demand, a roaring stock market and extremely low interest rates are melding together to create a record-breaking luxury real estate market in Manhattan.

“Leading up to the pandemic, the high end of the market was the weakest segment of the market. However, since the end of the lockdown, it’s inverted – where the weakest segment of the market is the lower end, entry level,” said Jonathan Miller, president and CEO of real estate appraisal firm Miller Samuel.

The third quarter saw the most sales recorded at all price points in Manhattan in more than 32 years, according to a recent report by Douglas Elliman. But the real heat is on properties priced above $4 million.

“2021 has recorded the largest number of luxury contracts in the history of New York real estate,” said Donna Olshan, president of Olshan Realty and author of the Olshan Luxury Report.

According to Olshan, so far this year in Manhattan, 1,623 contracts were signed for…

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