Manhattan Luxury Report:
24 Contracts Signed Above $5 Million
Manhattan luxury contracts doubled the week of October 12–18, 2026: buyers signed 24 deals at $5 million and above, up from 12 the week before, with $201.2 million in combined asking prices, according to the Compass Manhattan Luxury Report. The homes sold at full price, with an average discount of 0%, and the top deal was a $17 million West Chelsea condo at 551 West 21st Street.
Downtown back on top
Downtown took 11 of the week's 24 deals, spread across Soho, Tribeca, the West Village, Greenwich Village, Chelsea, West Chelsea and the Flatiron District. Soho alone had four, including two townhouses. The Upper West Side had six contracts, four of them on or near Central Park West, after the Upper East Side led the week before.
Manhattan luxury market by property type
Condos led with 13 deals, and co-ops doubled to 8 from 4 the week before. The median asking price was $7,247,500, so most of the action sat between $5 million and $10 million, with four deals above $10 million.
All | Condos | Co-ops | Townhouses | |
|---|---|---|---|---|
Contracts signed | 24 | 13 | 8 | 3 |
Average asking price | $8,384,125 | $9,336,847 | $7,380,000 | $6,933,334 |
Median asking price | $7,247,500 | $7,495,000 | $7,197,500 | $6,000,000 |
Average price per sq ft | $2,629 | $2,862 | – | $1,794 |
Average size | – | 3,278 sq ft | – | 3,931 sq ft |
Source: Compass Manhattan Luxury Report, contracts signed October 12–18, 2026. Co-op price per square foot and size are not reported.
Every Manhattan luxury contract signed this week
All 24 deals, ranked by last asking price.
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$17,000,000
Top dealSigned at full ask in 27 days, the week's largest contract. The tower at 551 West 21st Street sits along the Hudson River in West Chelsea, per Compass.
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$16,500,000
The second Waldorf Astoria Residences contract in three weeks, signed at its original asking price.
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$14,950,000
Highest $/sq ftSigned at full ask in 35 days on Billionaires' Row, at the highest price per square foot of the week.
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$12,750,000
At 5,200 square feet, the largest condo of the week, signed at full ask in 28 days.
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$9,500,000
The week's top townhouse, and the largest home on the list.
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$9,250,000
A Central Park West penthouse co-op that signed at full ask in 34 days.
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$8,995,000
Signed at its original asking price in 41 days.
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$8,900,000
A combined co-op on lower Fifth Avenue, signed at its original asking price.
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$8,495,000
Five bedrooms in Tribeca, signed at full ask in 29 days.
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$7,600,000
One of four Soho contracts this week.
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$7,500,000
Fastest dealSigned at full ask in 20 days, with the third-highest price per square foot of the week.
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$7,495,000
Signed at full ask in 23 days.
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$7,000,000
A Lincoln Square penthouse that signed at full ask in 27 days.
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$6,795,000
A Fifth Avenue penthouse co-op that signed at its original asking price after 172 days.
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$6,500,000
Signed at full ask in 30 days.
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$6,195,000
Biggest price cutReduced 6.8% from $6,650,000 before signing after 150 days.
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$6,000,000
Price raisedThe only home this week to go up in price, from $5,995,000 to $6,000,000 before signing.
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$5,999,000
Five bedrooms on the Upper West Side, signed at full ask in 40 days.
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$5,950,000
Longest on marketSigned at its original asking price after 545 days, proof that the right buyer can still come along.
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$5,795,000
Signed at full ask in 29 days.
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$5,750,000
Trimmed 1.7% from $5,850,000 and signed in 29 days.
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$5,500,000
A combined Central Park West co-op, signed at its original asking price.
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$5,500,000
Tied for the week's fastest deal, signed at full ask in 20 days.
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$5,300,000
Signed at its original asking price after 152 days.
What this week means for buyers and sellers
- Buyers are back in force.Contracts doubled from 12 to 24, the busiest of the past five weeks.
- Pricing right still wins.The average discount was 0%, and 22 of 24 homes signed at or above their original asking price.
- Most deals happen fast.Fifteen homes signed within 41 days, and two signed in just 20.
- Co-ops are gaining ground.Co-op contracts doubled to 8, led by penthouses on Central Park West and Fifth Avenue.
Frequently asked questions
How many luxury contracts were signed in Manhattan the week of October 12 to 18, 2026?
Buyers signed 24 contracts at $5 million and above: 13 condos, 8 co-ops and 3 townhouses. That doubled the 12 deals signed the week before, with $201,219,000 in combined asking prices.
What was the most expensive Manhattan contract signed this week?
551 West 21st Street, Unit 17A in West Chelsea, with a last asking price of $17,000,000. The 4-bedroom, 4,271-square-foot condo signed at full ask after 27 days.
Which Manhattan neighborhoods led luxury sales this week?
Downtown took 46% of contracts, led by four deals in Soho and two in Tribeca. The Upper West Side had 25%, the Upper East Side 17% and Midtown 13%.
Are Manhattan luxury homes selling below asking price?
Rarely. The average discount was 0% this week. Only two homes cut their price before signing, and one, 201 West Houston Street, actually went up in price.
How long are Manhattan luxury homes taking to sell?
The average was 78 days on market. Most homes signed within six weeks, while 520 5th Avenue took 545 days and still signed at its original price.
What is the average price per square foot for Manhattan luxury homes right now?
$2,629 overall and $2,862 for condos this week. The highest was 157 West 57th Street at $4,314 per square foot.
Is now a good time to buy luxury real estate in Manhattan?
Contract activity doubled this week and homes are selling at full price, so well-priced homes won't wait long. Every situation is different, so reach out for a private consultation.
Thinking about buying or selling luxury real estate in Manhattan? Contact Darrell Williams for a private consultation, or view my Compass profile and listings.