Luxury sales in Manhattan reached new heights. Despite the shorter month of February, asking price sales volume reached $1.382 billion. That’s an increase compared to nearly $955 million in dollar volume in February 2025.
For the month of February, 123 contracts, priced at $4 million and above, were signed—compared to 114 contracts during February 2025, according to the Olshan Report for the week ending Mar. 1.
The total sales volume for last month was led by trophy market properties—13 contracts at $20 million and above went under contract.
“February 2026 has 45% higher volume over February 2025 because of some whopper sales,” Donna Olshan, president of Olshan Realty, tells Realtor.com®.
Leading the number of signed contracts were several luxury properties at an Upper East Side building currently under construction.
The property at 1122 Madison Ave. has buyers for at least 18 out of its 26 units. The building only started selling off floor plans on Jan. 15.
The contracts have averaged $5,439 per square foot. The offering plan has been amended at least four times—with some showing price increases reflecting the demand for the exclusive building.
Once completed, the building will be filled with high-end amenitites, including a fitness center, squash court, training studio, cold plunge pool, steam room, and sauna.
A third floor will have a bar, lounge, billiard room, playroom, dining room with kitchen (for private parties), media room, and game room.
“The building has been highly successful. Eighteen out of the 20 contracts were above $10 million, and five were at $20 million and above,” says Olshan. “The building has a winning formula: a boutique condo with high-end design (Studio Sofield) in a prime location—one block from the Met Museum. The building also offers a robust amenity package. With only 26 units, it’s like living in a private, exclusive club.”
The first residents won’t be able to move in until fall 2027.
To show the strength of the New York City real estate market, 32 contracts were signed in one week alone for properties at $4 million and above.
This marks nine more contracts than the prior week.
Gilded Age masterpiece
The No. 1 property that went under contract is described as a Gilded Age masterpiece.
The townhome at 15 East 63rd St. has an asking price of $39.5 million, which is significantly lower than the $65 million price tag when it was first listed two years ago.
The townhome, located just off Fifth Avenue’s Gold Coast, is about 18,000 square feet and has six floors and two “below-grade level” floors.
A sweeping marble staircase welcomes guests, but there is an elevator to reach the various floors. Carved woodwork, marble stairs, and copper-balconied landings are some of the intricate details found throughout.
The home has at least seven bedrooms and 8.5 baths, and there’s a separate floor that can be used for staff or security headquarters located on the lower level.
The primary suite has a 12-foot high ceiling and a front-facing sitting room with French windows, a dressing room, and two luxurious marble bathrooms.
Flatiron on Fifth
The No. 2 contract is located in the iconic Flatiron Building. The property at 175 Fifth Ave., 18N, has an asking price of $24.8 million.
The development, which was formerly an office building, started marketing off floorplans in September 2025.
The 18N unit in contract has four bedrooms and 4.5 baths in more than 4,626 square feet of space filled with oversized windows showcasing skyline views. Residents will have private storage, and wine cellars are available for purchase.
Once fully renovated, the Flatiron Building will have at least 38 units, many with 12-foot-ceilings overlooking Madison Square Park.
