Manhattan’s luxury real estate market sees best first quarter in six years

Published Wed, Apr 2 20259:32 AM EDT

By: Robert Frank

People walk by a view of residential luxury towers along nicknamed Billionaires Row, a stretch of 57th Street that holds the majority of Manhattan’s supertall luxury towers on May 16, 2022 in New York City. Spencer Platt | Getty Images News | Getty Images

Manhattan apartment sales jumped 29% in the first quarter from the same period a year ago, as the wealthy sought refuge from volatile stocks to buy real estate, according to new reports.

There were 2,560 closed sales in the quarter, up from 1,988 a year ago, according to a report from real estate appraiser Miller Samuel and brokerage Douglas Elliman. The total value of apartment sales increased even more, reaching $5.7 billion, up 56% over the same quarter last year. LEARN MORE…

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