48-50 West 96th Street (Compass)
From May 25-31, 2026, 210 residential contracts were signed in Manhattan. This time frame included the Memorial Day holiday, which could account for a twenty percent week-over-week decrease. Nevertheless, it brought the total number of May 2026 residential contracts signed to 1,031, a slight year-over-year increase and greater activity than the two years prior.
Last week's contract signings took place on the same week that New York State lawmakers approved a 2027 state budget that included a new pied-a-terre tax on second homes in New York City valued at $5 million or more. It will take effect on July 1, 2026 and be carried out in two phases.
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The first phase will measure based on value thresholds determined by the Department of Finance as opposed to the last sticker price, with a tax between 4% and 6.5% applying to homes with a market value of $1 million or more (equivalent to a sales value of $5 million). In 2028, the city will evaluate properties by looking at comparable sales and updating the tax to between 0.8 percent and 1.3 percent. A property escapes a surcharge if an immediate family member, defined as a spouse, child, parent, sibling, grandparent, or grandchild occupies it as their primary residence.
The Real Estate Board of New York fears that the pied-a-terre tax will discourage investment and hurt New York City's economy, and some buyers have already pulled out of deals because of it. But New York City real estate remains a reliable investment in volatile times; moreover, despite advances in technology that allow for remote work from all over the world, some will always need or want a place to stay in New York City. In the immediate term, 27 listings asking $5 million or more entered contract on the last week of May 2026. Additionally, four contracts were signed at Waldorf Astoria Residences New York, giving the unidentified buyers a Manhattan home base at one of the most famous hotels in the world; of these, only one was asking over $5 million.
Contentious UWS mansion enters contract, could set new price record
48-50 West 69th Street (Compass)
The week's top contract by far was for 48-50 West 69th Street, which was asking $85 million and entered contract off-market. If it closes for the asking price, it will break a price record for an Upper West Side house previously held by 248 Central Park West, which public records show sold for $26 million in March 2022. The New York Post notes that it would come in just behind the $90 million sale of 18 East 64th Street as one of New York City's most expensive townhouse sales.
Public records show that the sellers, identified as business executive Pierre Bastid and jazz singer Malou Beauvoir, bought what was then two separate townhouses for a total of $24.5 million in 2011 and 2012. From there, they demolished the houses and started building a mega-mansion on the site in a move that The New York Times describes as "how the whims of a plutocrat can upend the lives of an entire city block." Longtime residents on the block complained about the construction noise, dust, fumes, and traffic caused by the renovation, with some citing damage to nearby properties and saying it was affecting both their health and their pets'. The house was originally intended to be their primary residence, but the couple has reportedly separated and Mr. Bastid told The Wall Street Journal that "'world and personal events' have shifted his attention to Europe."
The result of the construction was a nearly 20,000-square-foot, 41.5-foot-wide mansion with five bedrooms, eight full baths, three half baths, and multiple outdoor entertaining areas that include a garden, a terrace off the full-floor primary suite, and a wraparound terrace on the fifth floor. Interiors boast a 38-foot-wide double-height living room, a limestone floating staircase and elevator to connect all levels, a home theater, a wine cellar, a billiards room, and an indoor/outdoor wellness space with a 55' indoor pool, a home gym, a yoga room, and a spa with sauna, steam shower, and massage room.
Notable contracts on Village-Chelsea border
The Greenwich
In the Village, Penthouse D at The Greenwich, a department store turned luxury condominium, entered contract with a $17.75 million ask, the third-highest of the week. This is the first time this duplex penthouse with a private terrace and a roof deck has been on the market in this configuration. In 2005, when it was still contained to a single-floor apartment, fashion designer Michael Kors bought it from Daily Show host Jon Stewart for just under $4 million.
More recently, when the penthouse was listed for $18 million in October 2025, Mansion Global reported that Mr. Kors sold the single-story penthouse for $7.63 million in 2018 to a buyer who already owned a top-floor apartment in the building. She combined the two into a duplex penthouse with a wood-burning fireplace in the living room, a chef-level kitchen, a media room with projection screen and wet bar, and a primary suite with an infrared sauna in the en suite bath.
One perk of The Greenwich is its prime location on West 14th Street and Sixth Avenue, putting it in close proximity to Union Square Park, Washington Square Park, and popular restaurants, retail, and cultural institutions in both Greenwich Village and Chelsea. Across the street, two contracts were signed at The Village West, a new construction red brick building on the southwest corner of West 14th Street and Sixth Avenue. The building is nearly 90 percent sold following the sales launch in September 2025, and closings are expected to begin soon.
The Village West, spring 2026 (CityRealty)
High-profile East Side contracts
121 East 83rd Street, #TH (Leslie J. Garfield)
Several contracts linked to public figures were signed on Manhattan's East Side last week. 121 East 83rd Street, which was asking $10.75 million in the week's second-highest townhouse contract and sixth-highest overall, was originally built as a carriage house for retail magnate Frank W. Woolworth in the late 19th century. Decades later, it served as the home and studio of photographer Carl Fischer, who shot some of Esquire magazine's most famous covers of the 1960s and 1970s in the house. It is currently configured as ground-floor doctors' offices with a duplex on top, but can be converted to a single-family mansion.
1155 Park Avenue, #PH (Sotheby's International Realty)
Elsewhere in Carnegie Hill, the penthouse at 1155 Park Avenue entered contract with a $5.5 million ask. It was the former residence of Maurice Tempelsman, a diamond merchant and former companion to Jacqueline Kennedy Onassis. The New York Times reported that the couple lived in her Fifth Avenue apartment until her death in 1994; in 1999, after renting a suite at The Sherry Netherland, Mr. Tempelsman bought the two-bedroom penthouse with a private terrace for $3.3 million. His estate listed it in May 2026, just over a year after his death in April 2025.
(l-r) 1989 Madison Avenue; Swedish Elle Decor with 1989 Madison Avenue and Nina Persson on the cover (Compass)
In East Harlem, 1989 Madison Avenue entered contract with a $2.5 million ask. If it sells for this price, public records indicate that the seller will roughly break even, having bought it for $2.295 million from Nina Persson, lead singer of The Cardigans, in March 2024. Ms. Persson bought the house for $2 million in 2007 and embarked on a renovation that combined clean Scandinavian lines with original details like tin ceilings, exposed brick, wood-burning fireplaces, and hand-stenciled walls. The result was featured in the Swedish edition of Elle Decor, and listing photos show largely unchanged interiors.
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Top NYC Contracts: May 25-31, 2026
#10. The Centrale, #69
Last Ask: $7,195,000
Midtown East | Condominium | 3 Bedrooms, 3 Baths | 2,705 ft2
The Centrale, #69 (Douglas Elliman Real Estate)
#9. 200 East 83rd Street, #30B
Last Ask: $7,895,000 (-11.9%)
Yorkville | Condominium | 3 Bedrooms, 3.5 Baths | 2,263 ft2
200 East 83rd Street, #30B (Brown Harris Stevens Residential Sales LLC)
#8. The Mayfair, #10E
Last Ask: $8,350,000 (-27.4%)
Park/Fifth Ave. to 79th St. | Condominium | 4 Bedrooms, 4.5 Baths | 3,195 ft2
The Mayfair, #10E (Sothebys International Realty)
#7. 17 East 12th Street, #3
Last Ask: $10,500,000
Greenwich Village | Condominium | 4 Bedrooms, 5 Baths | 4,514 ft2
17 East 12th Street, #3 (Compass)
#6. 121 East 83rd Street, #TH
Last Ask: $10,750,000 (-6.1%)
Carnegie Hill | Townhouse | 4 Bedrooms, 2 Baths | 7,825 ft2
121 East 83rd Street, #TH (Leslie J Garfield & Co Inc)
#5. One Hundred Barclay Tribeca, #21AD
Last Ask: $12,995,000
Tribeca | Condominium | 5 Bedrooms, 4.5 Baths | 5,317 ft2
One Hundred Barclay Tribeca, #21AD (Compass)
Artisan Lofts, #PH (At The Firm Residential LLC)
From the Listing: Exceptional Tribeca Artisan Loft Penthouse with expansive terraces and breathtaking panoramic views. This is a rare chance to own a full-floor, 5-bedroom, 5.5 bathroom penthouse with low taxes in one of Tribeca's most desirable boutique condominiums. Occupying the entire 18th floor, this unique residence is accessed via two private key-locked elevators and offers over 4,600 square feet of sun-drenched indoor/outdoor living space. With exposures to the north, south, east, and west, the home boasts awe-inspiring views of the city's most iconic landmarks. See full details here.
Artisan Lofts has no public availabilities.
#3. The Greenwich, #PHD
Last Ask: $17,750,000
Greenwich Village | Condominium | 3 Bedrooms, 3 Baths | 4,689 ft2
The Greenwich, #PHD (Compass)
#2. 150 Charles Street, #M10
Last Ask: $21,500,000
West Village | Condominium | 4 Bedrooms, 4.5 Baths | 5,612 ft2
150 Charles Street, #M10 (Compass)
48-50 West 69th Street, #TH (Compass)
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From the Listing: A property without equal: the most significant single-family townhouse ever offered for sale on the Upper West Side. Just off of Central Park, 48-50 West 69th Street is a residence that evokes a kind of scale, drama, and attention to detail not found since the Gilded Age, when palatial homes lined the neighborhood’s avenues and preceded today’s apartment buildings. Years of careful planning by Fradkin & McAlpin Architects and MDesign London has resulted in a truly extraordinary home spanning 41.5 feet wide and 19,600 square feet of interior space, with multiple oversized outdoor entertaining areas throughout. See full details here.
Would you like to tour any of these properties?
Just complete the info below.
Or call us at (212) 755-5544
Would you like to tour any of these properties?
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