The Manhattan residential apartment market recorded 197 closings over the past week, including 31 high-end transactions above $3.9 million. While overall volume came in lighter than the prior period, the top of the market remained active, with closings driven by new developments such as Sixteen Fifth Avenue, The Henry, and One High Line. Five of the ten priciest transactions were units within buildings designed by Robert A.M. Stern Architects, led by a “House”-portion three-bedroom sale that closed for north of $25 million. The rental-to-condop conversion, The Strathmore, recorded the highest number of closings.
Transaction volume skewed toward the core of the market, with the majority of deals falling between roughly $750,000 and $1.5 million, where buyers continue to engage despite elevated financing costs. Co-ops drove overall deal count, comprising nearly 60% of all transactions. Similar to recent weeks, the $2 million to $4 million segment remained comparatively subdued, reflecting ongoing selectivity among move-up buyers in search of larger units.