Wealthy Buyers Splurge on Manhattan Condos in Strong Q2 Showing

July 7, 2025 | New York City

Manhattan’s luxury residential market saw a significant resurgence in the second quarter of 2025, with a 67% year-over-year increase in condo sales priced at $10 million and above, according to Compass. This surge coincided with a broader uptick in transactions across all price points and a record high in all-cash deals, signaling renewed confidence among ultra-wealthy buyers.

Notable transactions included a $46.9 million penthouse at 111 West 57th Street and multiple sales at Central Park Tower, where one unit sold for $46 million—nearly $20 million below its original asking price. Industry experts suggest that buyers are making forward-looking investments, anticipating favorable shifts in tax policy, inflation, and interest rates.

The market momentum comes amid broader shifts in real estate brokerage practices, as Compass continues its battle with national listing rules and expands its private exclusive listing network. While these policy changes may have limited impact on Manhattan—where MLS rules are less dominant—the move could reshape listing dynamics across the city’s competitive brokerage landscape.