NewYork
In Manhattan, there were $7 billion worth of contracts signed for new developments during 2021, a 299% increase from 2020, and a 155% increase from 2019 when contract volume was a more typical $4.5 billion. [Mansion Global]
In Manhattan during 2021, there were 1,877 sales of properties priced at $4 million and above. The number of transactions was a 300% increase from 2020 and twice as much as 2019. The 2021 luxury sales volume was $15.9 billion. These totals are the highest on record since 2006 when the data collection began. The average price for a luxury residence in Manhattan was $8.5 million this year compared to $7.9 million in 2020.
There were 400 contracts signed for residences priced at $10 million and above in Manhattan during 2021, far surpassing the previous record of 270, set in 2014. [Mansion Global]
The Wales is a new development at 1295 Madison Avenue, a block from the Central Park Reservoir, on 92nd street in Carnegie Hill. The 11 story 20 residence condominium is comprised of 2 to 4 bedroom homes and a five bedroom penthouse. Prices range from about $3,635,000 for a two-bedroom to about $9,495,000 for a four-bedroom apartment. The building interiors are reimagined by Paris based design studio Cabinet Alberto Pinto with sunlit exposures, white oak flooring, and grand proportions. The kitchens feature white quartz slab countertops, custom-designed white lacquer cabinetry, and appliances by Wolf, Sub-Zero, and Miele. A full-floor penthouse, newly built atop the historic building, features a wraparound terrace and a private roof terrace with an outdoor kitchen and butler’s pantry. The Wales’ elegant 24-hour attended lobby features coffered ceilings, a custom walnut and marble concierge desk, and antique mirrored walls. Amenities include a sophisticated oak-paneled fitness center with Peloton and Hydrow equipment, a pet spa with grooming station, bicycle storage, and private storage for purchase. The landmarked Neo-Renaissance structure was originally built in 1901 and became the Hotel Wales before being transformed into a luxury new development. [Mansion Global]
