Real Estate
Manhattan Luxury Apartment Market Surges in Month After Mamdani’s Win
Real estate brokers say there has been no slowdown in demand from wealthy buyers.
Billionaires' Row and residences on Central Park West in New York.
Photographer: Gary Hershorn/Getty ImagesSales of luxury homes in Manhattan jumped in November, countering fears that the election of Zohran Mamdani as mayor would drive out wealthy residents.
Buyers signed contracts on 176 homes in Manhattan priced at $4 million or more in November, up 25% from the 141 deals inked the month prior, according to appraiser Miller Samuel Inc. and brokerage Douglas Elliman. That included condos at The 74 on the Upper East Side and at 53 West 53rd St. on Billionaires’ Row, which were purchased for roughly $24 million each.