Last week’s Manhattan housing market certainly ended on a high note – literally. You know that old saying about things happening in threes? My word of the week is “trifecta” – it’s always been a favorite, along with “neat, blowhard and Muttontown.
My favorite phrase is “The Trend is Your Friend” and one needs at least 3 data points to make a trend. Sometimes I append “…until it ends.”
I spoke about The $70M Condo versus $52M Co-op Smackdown, Manhattan Style last week but there is another big sale to make headlines was scooped by Alexei Barrionuevo at the New York Times. Alexei corrected me on my Twitter feed that the price was “over” 90M.
It’s all quite breathtaking when you look at this sale in context of the entire market. However what sets the last 3 sales of $52.5M, $70M and $90M+ apart is they all exceed 10k square feet. The recent $88M sale was a nominal 6,744 square feet.
This record sale won’t close until the building construction is completed next year or so and I am not so sure it will still be a record at that point.