On the week ending July 11, 2026, 330 residential apartment sales were recorded in Manhattan. This is nearly 100 more sales than were recorded the previous week, and included 37 luxury closings priced over $3.9 million; at a total of $253 million, such sales accounted for nearly 40 percent of the week's total sales volume. Moreover, four of the top five sales closed over $10 million.
In this article:
Gracious apartment in The Surrey Residences leads Manhattan sales
The Surrey Residences (Douglas Elliman)
The week's top sale by far was for Residence #15AB at The Surrey Residences, which closed for nearly $25.75 million. Not only was this the week's top sponsor sale, but it also represents one of the highest-priced sales recorded in the condo component of The Surrey, A Corinthia Hotel to date, coming in just behind a $28 million combination unit on the twelfth floor that closed earlier this year.
The apartment is located on the uppermost floors of the hotel to make the most of classic Upper East Side views. As such, the LLC-identified buyer will enjoy access to the hotel's concierge and housekeeping services, a fitness center with terrace access, The Surrey Spa, a rooftop terrace, and restaurant/private members club Casa Tua.
The Surrey Residences, #PH2 (Douglas Elliman)
Celebrity real estate closings
The Beresford
Hedge fund executive Bill Ackman has officially moved on from The Beresford. Public records list him as the seller of Residence #8E, which closed for over $6.3 million. The closing was recorded less than a year after that of Residence #8F, a neighboring unit he owned in the prestigious cooperative. The two share a landing and were once marketed as a combination opportunity, but this did not come to pass; public records show two separate buyers. As for Mr. Ackman, his New York City holdings still include a penthouse at One57 and a Foster + Partners-designed penthouse elsewhere on the Upper West Side.
820 Park Avenue, #15 (Brown Harris Stevens)
Additionally, public records list the estate of Robert Rifkind, a partner at Cravath, Swaine & Moore who served as an Assistant to the Solicitor General under Thurgood Marshall early in his legal career, as the sellers of the week's highest-priced co-op. Residence #15, a full-floor three-bedroom at 820 Park Avenue, closed for $9.7 million in the week's fifth-highest sale overall. Records also indicate that Mr. Rifkind and his wife Arlene Rifkind bought the co-op for $8.25 million in August 2012. It was listed less than a year after his death in March 2025.
Entry level constricts at challenging time for first-time buyers
While Manhattan's luxury market is going strong, it isn't easy for first-time buyers. Fewer than half of last week's recorded sales came in below $1 million, and only 13 percent of last week's sales closed below $500K. This comes as Corcoran's Q2 2026 market report found that Manhattan median prices climbed 7 percent year over year while inventory tightened. This also comes at a time when a time when a study from WalletHub found that first-time buyers made up only 21 percent of the home-buying market, the lowest share since the National Association of Realtors began tracking data in 1981, and when a record 25.2 million adults under 35 in the United States lived with their parents in 2025, despite the vast majority of them working.
Google Streetview of Palm Bay, FL
In light of all this, WalletHub ranked New York City among the worst cities for first-time buyers in 2026. However, it should be noted that based on criteria like active home listings, cost of living, crime rates, tax rates, and energy costs, Palm Bay, FL, a place with only a few big-box stores and no sidewalks, was found to be the best city for homebuyers. Perhaps in New York City, buyers get what they pay for in the form of incredible culture, independent retailers and restaurants, and the largest public transportation system in North America.
Designer Karim Rashid does not seem convinced of that, though. After 34 years in New York City, he decided to leave and build a house in New Jersey amidst disillusionment with the city's high prices and lack of support for the creative class. To that end, he listed his colorfully decorated apartment at The West Residence Club. After a price cut, it entered contract at a higher price than the last listed.
As an aside, Mr. Rashid's greatest contribution to the New York cityscape remains the colorful and optimistic-looking 329 Pleasant Avenue, located in East Harlem and completed in 2017. The one availability in the building is a two-bedroom asking $4,041/month; while still out of reach for many New York City renters, it was last listed for $3,800/month. Indeed, East Harlem has seen far less rental price escalation than almost any other Manhattan neighborhood.
329 Pleasant Avenue (CityRealty)
A number of measures are being taken to address the affordability crisis. Mayor Mamdani's recently released "Block by Block" plan aims to address the housing crunch by building 200,000 new affordable homes and preserving 200,000 more over the next decade, not to mention addressing regulatory barriers to housing development. At a state level, Senator Erik Bottcher and Assemblymember Keith Powers recently sponsored a bill that would make it easier to provide affordable housing preferences for artists of all types, and thus build new artist housing like Manhattan Plaza. It passed the Senate in June 2026 and has been delivered to the Assembly.
Finally, while President Trump refused to sign the 21st Century ROAD to Housing Act, it automatically went into law after passing with veto-proof majorities in both the House and Senate on Sunday, July 10. Among other measures, it helps finance and streamline housing production, creates a pilot grant program to help local governments convert vacant commercial or industrial buildings into affordable housing, and the HOME Investment Partnerships Program raised its income eligibility, thus allowing more buyers or renters to qualify for assistance. All these measures could be more meaningful for the rental market, but they could also ease pressure on the lower and middle end of the sales markets.
Closings begin at Louie in tight market for new developments
The Corcoran report found that in the second quarter of 2026, new development sales decreased year-over-year for the third consecutive quarter. Active sponsor listings dropped 22 percent to the lowest second quarter since 2014, new developments launching sales totaled only 160 units, and only a small handful of new developments commenced closings during this time.
Louie (Nest Seekers LLC)
The latest new development to begin closings was Louie XVIII, one of two buildings comprising Louie, a rare new construction development in the Ladies' Mile Historic District. Both floor-through three-bedroom apartments are reached via direct elevator access and feature multiple exposures, white oak flooring, private outdoor space, custom kitchens with Vigil stone islands and Miele appliances, and primary baths with high-end finishes.
Amenities at Louie include an attended lobby, a state-of-the-art fitness center, a spa with sauna and cold plunge, and a landscaped roof terrace. It is in a prime Downtown location near Union Square's Greenmarket and transportation hub, top-tier dining and retail, acclaimed cultural institutions, and supermarkets like Whole Foods and Trader Joe's. Throughout the complex, availabilities range from a three-bedroom for $2.9 million to a penthouse with private roof terrace for $4.25 million.
520 Fifth Avenue as seen from Bryant Park, spring 2026 (CityRealty)
Also of note, 520 Fifth Avenue was the week's best-performing new development in terms of the number of sales recorded with four sales logged. Multiple closings also took place at The Greenwich by Rafael Vinoly in the Financial District, 35 Hudson Yards, Eastlight in Kips Bay, The Strathmore in Yorkville, and, on the Upper West Side, 720 West End Avenue and 250 West 96th Street.
Top Manhattan sales
820 Park Avenue, #15 (Brown Harris Stevens)
From the Listing:
A truly exceptional offering of a grand full floor home boasting over 90 feet of Park Avenue frontage, with majestic exposures framed by large picture windows in every room. Flooded with sunlight throughout, the 15th Floor at 820 Park Avenue is a property offering a flawless classic layout, glorious proportions and wide open views both east and west rarely found on Park Avenue, all set atop a distinguished full-service cooperative on a prime corner of the Upper East Side.
A truly exceptional offering of a grand full floor home boasting over 90 feet of Park Avenue frontage, with majestic exposures framed by large picture windows in every room. Flooded with sunlight throughout, the 15th Floor at 820 Park Avenue is a property offering a flawless classic layout, glorious proportions and wide open views both east and west rarely found on Park Avenue, all set atop a distinguished full-service cooperative on a prime corner of the Upper East Side.
The Henry, #11W (Compass)
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From the Listing:
Residence 11W at The Henry is a graciously proportioned five-bedroom apartment facing west and south with 11-foot ceilings. The apartment's scale, views, and light are immediately evident, with a private vestibule leading to a beautiful, generous square gallery. The living room sits on the southwest corner of The Henry. A true chef’s kitchen with a large eat-in area and two west facing picture windows opens to the living room with pocket doors. The primary bedroom suite sits privately at the north end of the apartment. There are 4 additional bedrooms, each with its own en-suite bath and generous closet space.
Residence 11W at The Henry is a graciously proportioned five-bedroom apartment facing west and south with 11-foot ceilings. The apartment's scale, views, and light are immediately evident, with a private vestibule leading to a beautiful, generous square gallery. The living room sits on the southwest corner of The Henry. A true chef’s kitchen with a large eat-in area and two west facing picture windows opens to the living room with pocket doors. The primary bedroom suite sits privately at the north end of the apartment. There are 4 additional bedrooms, each with its own en-suite bath and generous closet space.
2 Available Listings for Sale from $26,880,000
40 Mercer Street, #30 (Compass)
From the Listing:
Unrivaled private outdoor space in a white glove condominium with direct garage access. Enveloped in a stunning 1,500+ SF wrap-around terrace, Penthouse 7 is the crown jewel of 40 Mercer Street. This is a rare opportunity to experience luxurious indoor and outdoor living in the heart of Downtown Manhattan’s most vibrant neighborhood. Featuring four bedrooms and three and a half bathrooms across 3,000+ square feet, the home has a secure elevator managed by the concierge, providing incredible privacy and discretion.
Unrivaled private outdoor space in a white glove condominium with direct garage access. Enveloped in a stunning 1,500+ SF wrap-around terrace, Penthouse 7 is the crown jewel of 40 Mercer Street. This is a rare opportunity to experience luxurious indoor and outdoor living in the heart of Downtown Manhattan’s most vibrant neighborhood. Featuring four bedrooms and three and a half bathrooms across 3,000+ square feet, the home has a secure elevator managed by the concierge, providing incredible privacy and discretion.
MacDougal Lofts, #5WE (Serhant)
From the Listing:
A truly once-in-a-lifetime offering in Greenwich Village, just one block from Washington Square Park - the only full-floor residence in the building and one of the most extraordinary loft conversions ever offered in this historic district. Residence 5WE at 173 MacDougal Street was created through the seamless combination of two apartments and gut-renovated to the studs, resulting in an expansive, luminous home of approximately 4,635 square feet. The interiors were designed by Betty Wasserman. A private keyed elevator opens directly into a gracious reception gallery, introducing a residence that masterfully balances architectural drama with everyday livability.
A truly once-in-a-lifetime offering in Greenwich Village, just one block from Washington Square Park - the only full-floor residence in the building and one of the most extraordinary loft conversions ever offered in this historic district. Residence 5WE at 173 MacDougal Street was created through the seamless combination of two apartments and gut-renovated to the studs, resulting in an expansive, luminous home of approximately 4,635 square feet. The interiors were designed by Betty Wasserman. A private keyed elevator opens directly into a gracious reception gallery, introducing a residence that masterfully balances architectural drama with everyday livability.
The Surrey Residences, #15AB (Douglas Elliman)
From the Listing:
Residence 15A is an expansive four-bedroom, four-bathroom home with two powder rooms, offering 4,997 square feet with North, South, East, and West exposures. The entry foyer, adorned with Calacatta Golden marble architraves and Calacatta Golden marble inset borders, leads to a gracious gallery with expansive art walls. Throughout the home, 5-inch white oak flooring is meticulously laid in a sophisticated chevron pattern. This residence features a grand 25-feet corner great room which connects to a gracious library room and a windowed, separate eat-in kitchen with a banquette along with a butler’s pantry.
Residence 15A is an expansive four-bedroom, four-bathroom home with two powder rooms, offering 4,997 square feet with North, South, East, and West exposures. The entry foyer, adorned with Calacatta Golden marble architraves and Calacatta Golden marble inset borders, leads to a gracious gallery with expansive art walls. Throughout the home, 5-inch white oak flooring is meticulously laid in a sophisticated chevron pattern. This residence features a grand 25-feet corner great room which connects to a gracious library room and a windowed, separate eat-in kitchen with a banquette along with a butler’s pantry.
Biggest Profits
109 West 117th Street (CityRealty)
Last week, about 63% of Manhattan resale apartments sold at a profit. These included Residence #109C at 109 West 117th Street, which sold for $1.05 million, or at a profit of over 350 percent. Public records show that the seller bought it for over $230K in August 2006, at which time it was still a Housing Development Fund Company building. However, it has since been converted to a market-rate boutique condominium. It is located up the street from the recently opened Davis Center in Central Park North, which is home to the Gottesman Pool. It is also located in excellent proximity to Marcus Garvey Park, popular Harlem dining, and the 110th Street-Malcolm X Plaza 2/3 trains.
CitySpire, #3901 (Compass)
From the Listing:
Experience refined modern living at City Spire. This residence is an impeccably designed 2,935-square-foot home, offering a rare balance of scale, craftsmanship, and elegance. The centerpiece of this residence is its sweeping 53-foot open-concept living, dining, and kitchen area, perfect for both grand entertaining and everyday comfort. Sixteen oversized windows bathe the space in natural light, showcasing north, east, and south exposures with glimpses of Central Park.
Experience refined modern living at City Spire. This residence is an impeccably designed 2,935-square-foot home, offering a rare balance of scale, craftsmanship, and elegance. The centerpiece of this residence is its sweeping 53-foot open-concept living, dining, and kitchen area, perfect for both grand entertaining and everyday comfort. Sixteen oversized windows bathe the space in natural light, showcasing north, east, and south exposures with glimpses of Central Park.
Ruppert Towers (CityRealty)
1 Available Listing for Sale for $875,000
Yorkville Tower 2, #14B (Manhattan Realty Group)
From the Listing:
Be the first to enjoy this gorgeous studio in one of the Upper East Sides most desirable buildings! Highlights include expansive open city views, large windows, bright airy layout, separate kitchen, and excellent closet space. All utilities included (heat, gas, water, electric).
Be the first to enjoy this gorgeous studio in one of the Upper East Sides most desirable buildings! Highlights include expansive open city views, large windows, bright airy layout, separate kitchen, and excellent closet space. All utilities included (heat, gas, water, electric).
2 Available Listings for Sale from $870,000
The Schuyler Arms, #1GN (Brown Harris Stevens)
From the Listing:
Conveniently located on the first floor, Apartment 1GN is a three-bedroom, two-and-a-half-bathroom unit with three exposures and an ideal layout. A dedicated foyer greets you upon entry, with a powder room thoughtfully positioned on the left, and a staircase on the right that leads to the lower level of the home. Entering further into 1GN, the expansive living and dining area stretches out before you, providing you with 26" of linear space able to be reconfigured to meet your needs. The living room's large north facing windows provide picturesque views of West 99th Street's abundant historical architecture further complemented by track and recessed lighting.
Conveniently located on the first floor, Apartment 1GN is a three-bedroom, two-and-a-half-bathroom unit with three exposures and an ideal layout. A dedicated foyer greets you upon entry, with a powder room thoughtfully positioned on the left, and a staircase on the right that leads to the lower level of the home. Entering further into 1GN, the expansive living and dining area stretches out before you, providing you with 26" of linear space able to be reconfigured to meet your needs. The living room's large north facing windows provide picturesque views of West 99th Street's abundant historical architecture further complemented by track and recessed lighting.
2 Available Listings for Sale from $625,000
109 West 117th Street (CityRealty)
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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