After weeks of sluggish luxury sales, the first week of August hit a two-year high with 43 contracts signed for residential properties priced at $4 million or more — the highest number inked in a single week since March 2014, according to Olshan Realty’s latest marketing report.
The sudden spike is largely due to a flood of sales at William Macklowe Company’s condo project at 21 East 12th Street and Related Companies’ 70 Vestry Street. Together the buildings accounted for 24 of the 43 contracts signed from August 1 through August 7. The total asking price volume for all the contracts was $353.1 million.