NYC Luxury Market Watch: Week of April 13, 2026

Manhattan's luxury market recorded its busiest week of 2026 in the middle of April. 39 contracts above $4 million signed between April 13 and 19, worth $371,140,000, with a $45,000,000 duplex penthouse at 111 West 57th Street at the top of the list. It happened in the same stretch that a proposed New York City pied-a-terre tax was dominating the conversation.

The trend: 39 contracts, and a tax on the horizon

Thirty-nine contracts was the highest weekly count of 2026 to that point, and the second consecutive week above 38. Volume of $371 million works out to roughly $9.5 million per deal, up on the week before, so the market added size as well as count.

Three contracts cleared $20 million, two of them above $30 million and one above $40 million. Fifteen of the 39 deals, 38 percent, were in new or recently built buildings. Inventory rose again, to 6,413 units available in Manhattan.

Compass framed the week as strength in spite of an impending pied-a-terre tax, and judged that most of these deals were likely in the works before the proposal was announced. It expected any real effect to surface in contract volume and buyer sentiment over weeks or months rather than immediately. Our own explainer on how the NYC pied-a-terre tax works covers where that ended up.

Top 5 deals of the week

1. 111 West 57th Street, PH76

$45,000,000 · 4 BD, 4.5 BA, 6,512 SF

The week's top contract. A duplex penthouse with 6,512 interior square feet and 309 square feet of exterior space, a direct elevator entrance into a great room with 14 foot ceilings and floor to ceiling windows over Central Park, interiors by Studio Sofield. Roughly $6,910 per square foot.

2. 50 West 66th Street, 56N

$35,500,000 · 4 BD, 5.5 BA, 4,878 SF

The same 4,878 square foot N line that signed on the 53rd floor for $35,000,000 in early March, three floors higher and $500,000 dearer, at roughly $7,275 per square foot.

3. 40 East 73rd Street

$24,950,000 · 6 BD, 6.5 BA, 9,000 SF

A 9,000 square foot Upper East Side townhouse at roughly $2,770 per square foot, and the third contract of the week above $20 million.

4. 225 West 86th Street, 617

$12,250,000 · 6 BD, 5.5 BA, 4,498 SF

A six bedroom on the Upper West Side at roughly $2,725 per square foot.

5. 421 West Broadway, 6

$11,750,000 · 5 BD, 3 BA

A SoHo loft. The newsletter did not print a square footage for this one, so there is no rate per foot to compare against the rest of the list.

The Elevated take

Two consecutive weeks above 38 contracts, inventory at 6,413 and still climbing, and three deals above $20 million. That is the strongest combination in this stretch of the spring, and it landed while a pied-a-terre tax proposal was in every headline. Contracts signed in a given week reflect decisions made one to three weeks earlier, so this week measures late March sentiment, not the reaction to the proposal.

The 50 West 66th Street pair is the cleanest comparable of the season: the same line, the same 4,878 square feet, three floors apart, six weeks apart, at $35,000,000 and $35,500,000. Roughly one and a half percent for three floors and a month and a half. In a building with genuine absorption, pricing discipline shows up as numbers that boring.

If you were planning to sell in 2026 and the tax proposal changed your arithmetic, the lesson from this week is that the market did not reprice on an announcement. Watch what signs in May and June, not what gets said in April.

Work with Elevated

Elevated advises buyers and sellers across Manhattan's luxury market, with $2B+ in lifetime closings including $500M+ sold off-market. Get in touch or reach Zeve Salman directly at 917-607-1331.