The stock market may be down, but Manhattan’s ultra-luxury residential market is looking better than it has since the pandemic.
That’s the verdict according to market reports by New York City brokerages, compiled and reported by CNBC. Manhattan’s ultra-high-end luxury real estate market — with properties priced north of $20 million — had its best first quarter in six years, according to a cited Compass report. Those with very deep pockets tend to buy units in all-cash deals; 58% of sales in the quarter were made in cash, with units priced above $3 million seeing 90% of sales from buyers coming in with cash.
