The Real Deal New York

East Village luxury sales jump in 2015

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

238 East 4th Street

238 East 4th Street in the East Village

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