NYC Luxury Market Watch: Week of August 17, 2026

Manhattan's luxury market stayed quiet in the week of August 17 to 23, with 15 contracts signed above $4 million for a combined $99,155,000. Nothing traded above $20 million, and the week's highest contract was a renovated Upper East Side townhouse at 111 East 81st Street, in contract at $13,995,000.

The trend

Fifteen contracts matches the quietest week of the summer, level with June 29 to July 5, and sits below every other week since late May. Volume followed it down: at $99,155,000 this was the first week since the spring that the luxury segment did not clear $100 million.

Four of the fifteen contracts, 27 percent, were in new developments. Compass puts total Manhattan inventory at 4,592 listings and describes it as depleting further.

Top 5 deals of the week

1. 111 East 81st Street

$13,995,000 · 5 BD, 4.5 BA, 6,546 SF

A 20 foot wide townhouse, with roughly 5,266 square feet above grade plus a 1,280 square foot finished lower level, five bedrooms, four full bathrooms, two powder rooms and an elevator serving every floor.

2. 36 Bleecker Street, 5A

$11,500,000 · 4 BD, 4.5 BA, 3,280 SF

3. 2 East 70th Street, 91011B

$8,950,000 · 5 BD, 5.5 BA, 4,300 SF

4. 217 West 57th Street, 68N

$8,800,000 · 2 BD, 2.5 BA, 1,435 SF

Central Park Tower, on Billionaires' Row.

5. 285 Central Park West, 5S

$6,495,000 · 5 BD, 4 BA, 3,750 SF

The Elevated take

Two consecutive quiet weeks in late August are not a signal on their own. The more useful number this week is the one away from the weekly tally: at 175 Fifth Avenue, the Flatiron Building conversion, 22 residences have been publicly listed and only four remain, roughly 82 percent absorption on a building that is still finishing construction and has not opened. Prices there run from just under $11 million to $58.5 million for the 21st floor penthouse, with move-ins expected this fall.

New development units in Manhattan routinely sit for a year or more, so a near sellout before opening is worth noticing. It says what the top of this market has been saying all year: buyers will pay for what cannot be replicated, and ordinary inventory waits.

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.