The luxury real estate market on the Upper East Side experienced a notable uptick in activity this week, with six high-value contracts signed. According to the latest data from the Olshan Report, these transactions highlight the enduring appeal of the neighborhood’s premium properties.
The most expensive property to go into contract was a luxurious condo that sold for $6,200,000. This three-bedroom, three-bathroom apartment is situated on East 65th Street, between Lexington and Third avenues. The property boasts a private terrace, a chef’s kitchen, ample closet space, and built-in wardrobes. Large windows offer skyline views with northern, western, and eastern exposure, and the apartment features a herringbone-floored gallery.
The Upper East Side’s Top Luxury Contracts
Here are the details of the Upper East Side’s top luxury real estate contracts from August 31 to September 6:
181 East 65th Street, 18B
Address: 181 E 65th St, New York, NY 10021
Price: $6,200,000
Type: Condo
Bedrooms: 3
Bathrooms: 3
Square Feet: 2,596
333 East 68th Street, PHC
Address: 333 E 68th St, New York, NY 10065
Price: $5,500,000
Type: Co-op
Bedrooms: 6
Bathrooms: 7.5
Square Feet: 5,500
1049 Park Avenue, 14BC
Address: 1049 Park Ave, New York, NY 10028
Price: $4,450,000
Type: Co-op
Bedrooms: 5
Bathrooms: 4.5
400 East 67th Street, 27A
Address: 400 E 67th St, New York, NY 10065
Price: $4,350,000
Type: Condo
Bedrooms: 3
Bathrooms: 3
Square Feet: 2,285
799 Park Avenue, 8A
Address: 799 Park Ave, New York, NY 10021
Price: $4,200,000
Type: Co-op
Bedrooms: 3
Bathrooms: 3
Manhattan’s Luxury Market Cools Before Labor Day
As the Labor Day weekend approached, Manhattan’s luxury housing market saw a significant slowdown. Buyers signed just 13 contracts for homes asking $4 million or more, marking the lowest weekly asking-price sales volume since September 2023. Notably, none of the deals exceeded the $10 million mark, with the top two contracts both priced in the $6 million range.
The figures, sourced from the Olshan Luxury Market Report, indicate a sharp decline in activity compared to the previous week, which saw 24 contracts signed. This slowdown is consistent with historical trends, as September is typically the slowest month for high-end Manhattan contract signings.
A Tribeca Warehouse Loft Tops the List
The most expensive property to change hands was a duplex at 61 North Moore Street in Tribeca, asking $6.5 million. This 2,900 square foot unit features four bedrooms and four bathrooms, with 11-foot ceilings, exposed cast-iron columns, wooden beams, and a balcony. The building, originally a commercial warehouse, offers a unique blend of historic charm and modern luxury.
Robert A.M. Stern Tower Lands Second-Priciest Deal
The second-most-expensive contract was for a condo at 181 East 65th Street on the Upper East Side, asking $6.2 million. Unit 18B spans roughly 2,200 square feet with three bedrooms and three bathrooms, featuring a terrace and a chef’s kitchen. The building, known as the Chatham, was developed by Related Companies in 2000 and includes amenities such as doormen, a fitness center, and a garage.
Broader Market Trends and Challenges
Of the 13 contracted homes, six were condos, six were co-ops, and one was a condop. Only one pending deal involved a new-development unit, reflecting a broader trend of tightened inventory in Manhattan’s luxury new-construction pipeline.
The 13 homes carried an average asking price of $5.1 million and a median asking price of $5.2 million. The typical contracted home spent nearly a year on the market and was ultimately discounted by 6 percent from its original ask, highlighting the need for sellers to negotiate in the current market.
New taxes, such as the progressive mansion tax schedule and the new annual pied-à-terre tax, have added friction for buyers. The pied-à-terre tax, which took effect on July 1, 2026, reaches 1.3 percent at its highest tier for properties valued above $25 million. This tax is projected to raise $500 million annually.
Despite the pre-Labor Day slump, the market’s recent trajectory has been positive. In full-year 2025, Manhattan buyers signed 1,436 contracts for residential properties priced at $4 million or higher, an 11 percent increase over 2024. Boutique, independently owned brokerages captured $2.6 billion of that deal volume across roughly 1,000 transactions last year, carving out 11 percent of top-25 brokerage market share by specializing in high-end sales.
