First-quarter 2026 sales of newly developed for-sale apartments in Manhattan were driven largely by units priced at $10 million and above, Brown Harris Stevens Development Marketing reported. This sector recorded 56 contracts signed, more than during any period this decade. It also accounted for 55% of contract-signed dollar volume, based on last-asking prices.
Overall in Manhattan, new development realized demand was 370 contracts, on par with the year-ago period and with the 10-year average, BHSDM said. Total contract-signed sales volume for new development based on last asking price surpassed $2 billion for only the fifth time in at least a decade, due largely to unprecedented demand for residences priced $10 million and up.
“The highest end of the market is moving well, particularly in desirable locations that have, for years, lacked new inventory,” said Stephen Kliegerman, president, BHSDM. “This is impressive, particularly when accounting for financial and international market headwinds.”
Pictured: A view from 1122 Madison Ave., an Upper East Side condominium development that figured prominently in Q1 sales totals.
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