New York Luxury Sales Hit $144M, Bounce Back
Weekly Highlights of Manhattan Luxury Property Sales As Manhattan's luxury property market swiftly rebounds, the third week of September 2025 recorded a remarkable upsurge in sales volume and value. This trend has captured the attention of industry stakeholders. The sales volume for luxury properties soared to $144.47 million, showcasing a robust recovery from the preceding week. A total of 21 luxury properties exchanged hands, reflecting the impact of the Fed's rate cuts which have made mortgage rates more favorable, especially for properties under $3M. Sales were mainly in luxury condos, which constituted 15 of the total transactions. This focus underscores a noticeable buyer preference for condos over other types of luxury properties. Despite this rebound, office vacancies in the commercial sector remain historically high, underscoring broader challenges faced by the New York real estate market. Selective buying remained a trend. Turn-key, well-priced properties commanded ...