Manhattan Luxury Co-ops Outpace Condos for First Time in Four Years

Deals for Manhattan luxury co-ops experienced a resurgence last week.

The borough saw 28 contracts signed for homes asking at least $4 million between June 15 and June 21, according to a report from Olshan Realty. Co-ops outpaced condos, with 12 signed deals compared to 10 for co-ops, for the first time since the end of September 2022.

Buyers also signed contracts for two condops and four townhouses. The total contract volume for the week was $203 million, down from the $299 million notched by the previous week’s total. Homes that went into contract last week had a median asking price of $5.8 million and an average discount of 10 percent.

The top contract signed last week was for a townhouse at 165 East 64th Street on the Upper East Side with a last asking price of $18.5 million.

Developed by Titanium Property Group, the new construction limestone townhouse spans roughly 7,000 square feet across five stories and has six bedrooms, eight bathrooms and a private elevator.

The developer bought the property for $6.8 million in September 2024 and gut-renovated the home, which comes with white oak floors and staircases, custom crown moldings and radiant heated floors.

Compass’ Charlie Attias, Brooke Winsness and Connor Ramage had the listing.

The second priciest contract signed last week was for a penthouse at 224 Mulberry Street in Nolita asking $17.5 million.

Spanning over 5,600 square feet, the duplex home has four bedrooms and four bathrooms, along with almost 1,000 square feet of private outdoor space spread across four private terraces.

The home also has two fireplaces, two deeded parking spaces and keyed elevator access.

The home last sold for $21 million in 2015, according to public records.

Developed by Flank and designed by Hill West Architects, the restored boutique condo was originally built in 1926. Amenities include a fitness center, private garage with valet and landscaped roof terrace.

Douglas Elliman’s Lauren Muss and Corcoran’s Deborah Kern had the listing.