Buyers signed 1,945 contracts last year for an average price of $4.2 million. That adds up to $8.17 billion in sales volume, with roughly $1 billion coming in December alone. In all, Manhattan’s new development signings jumped 105 percent from 2019, with sales volume up around 180 percent from the last pre-pandemic year.
In a notable departure from previous years, no one neighborhood dominated last year’s leaders. The city’s biggest deals are typically concentrated in the corridors of power along Madison Avenue and Billionaire’s Row, but last year spread the wealth.
Buyers flocked to developments in Downtown Manhattan like Lightstone’s 130 William Street and Iliad Realty Group’s 67 Vestry, as 30 percent of new development contract dollars landed south of 14th Street. Another 19 percent settled into new towers on the Upper East and Upper West Side, as 200 Amsterdam and 200 East 83rd Street brought tall living to the tony enclaves.
Still, one highrise loomed above them all. Extell Development’s Central Park Tower, the city’s tallest, posted nearly $372 million in new contract signings. That’s over $20 million above the next best seller.