East Village luxury sales jump in 2015

Residential sales valued over $3M more than tripled in neighborhood
December 31, 2015 09:00AM

Is the East Village the new epicenter of the luxury living in New York City?

Maybe not, but luxury home sales in the Lower Manhattan neighborhood have hit a five-year high, buoyed by the $7 million sale of An East 4th Street condo earlier this year and mirroring a borough-wide trend in Manhattan.

While the overall number of home purchases in the East Village dropped slightly over the past year, purchases of single-family homes, condos and co-ops over $3 million almost tripled in 2015.

There were 10 such high-priced transactions in the neighborhood this year as of Dec. 15, according to PropertyShark data – a sizable jump from the three recorded in 2011.

The $7 million condo in question, located at 238 East 4th Street, was the priciest home sold in that time, reported by DNAinfo. Sculptor Jen Lewin bought the 6,5000-square-foot residence, which is spread out over four floors and includes a private garage and 770-square-foot garden.

It’s not just the East Village, though – luxury sales in Manhattan overall also saw an all-time high in 2015. There were 1,807 transactions worth more than $3 million in the borough this year as of Dec. 15, up from 1,154 last year, per PropertyShark data. [DNAinfo]Rey Mashayekhi