Twenty-nine contracts were signed last week in Manhattan at $4 million and above, 26 fewer than the previous week, which was the strongest week seen since November 2021. Condos outsold co-ops, 13-7, with 1 condop and 8 townhouses in the mix

Stat Geek Alert I: As the song says, it was the merry month of May. The S&P 500 logged its best May since 1990 and its best month since 2023, rising 6.2%. Its performance likely spilled into the luxury residential market. Manhattan ended up with 183 contracts signed at $4 million and above, the second-best May since we started keeping track in 2006. The best? May 2021 when 187 contracts were signed.

Stat Geek Alert II: Eight townhouses went to contract, the highest total since March 27-April 2, 2023, when 8 contracts were also signed.

The No. 1 contract was a mansion townhouse at 9-11 West 54th Street, asking $49.5 million, reduced from $63 million when it was listed in April 2023. The 5-story, 50-foot-wide house has 24,449 square feet including 11 bedrooms and 10 bathrooms. It was built between 1896-1898 and designed by architect Stanford White’s firm McKim Mead & White. The neo-Georgian house features grand staircases, baronial-sized rooms, 12 fireplaces, and a parlor floor with almost 14-foot ceilings. The house once served as the headquarters of US Trust. It sold twice to developers, most recently for $55 million in 2019. Annual real estate taxes are $332,601. A domestic buyer purchased the house for personal and business use.

The No. 2 contract was a townhouse at 230 West 11th Street, asking $22,495,000; it was listed last July. The Italianate 4-story house is 25 feet wide with 6,163 square feet. It is a shell--gutted down to the studs and sold with a set of construction plans that have been approved by NYC Department of Buildings and the Landmark Preservation Commission. This is the third time this building has traded in the last 4 years. In 2021, the house sold for $18.8 million, and in 2023 it sold for $20 million. Annual real estate taxes are $62,722.