LUXURY LEADS AS JANUARY VOLUME FINDS ITS FLOOR
JANUARY 2026 NEW DEV CONDO MARKET UPDATE
Published: February 4, 2026
- Over the last decade, January contract activity has ranged from 170 to 334 deals, with this year coming in at 190.
- Four contracts were signed for residences priced at $22.5M and above.
- 234 new sponsor units were launched, and 193 of them were in Brooklyn.
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"Despite overall volume near decade lows, activity at the top of the market stayed strong, with multiple ultra-luxury transactions signaling sustained high-end buyer confidence."
Luxury
34 contracts were signed for units priced at $4M or above, compared with 26 in December and 29 last year.
2 of those 34 contracts were signed in Brooklyn.
12 deals were for residences priced at $10M or more, and 4 exceeded $20M.
Notable Deals
Central Park Tower - #82E asking $26.7M
4-bed asking $6,217 PSF50 West 66th Street - #43S asking $23.75M
4-bed asking $6,696 PSF1122 Madison Avenue - #12S asking $22.95M
5-bed asking $5,281 PSFThe Katharine - #PH asking $22.5M
4-bed asking $5,652 PSF
Manhattan
95 contracts were signed in January, compared to 88 in December and 99 last year. The median sale price was $2,700,000, and the median PPSF was $2,035.
Three projects launched sales this month: 1122 Madison Avenue (26 units), Diamond Exchange Condominium (9), and 254 West 88th Street (4).
Top Performer by Contract Volume
The Strathmore
The Strathmore, in Yorkville, reported 13 contracts for one- to four-bedroom apartments priced from $1.075M to $5.495M. Corcoran Sunshine Marketing Group launched the 144-unit development in October, and reports that 1 residence has sold, with another 37 under contract.
Brooklyn
79 contracts were signed in January, compared to 73 in December and 91 last year. The median sale price was $1,250,000, and the median PPSF was $1,441.
11 projects launched sales, adding 193 new sponsor units.
Top Performer by Contract Volume
The Sixth
The Sixth, in Williamsburg, reported 7 contracts for one- and two-bedroom apartments priced from $1.2M to $3.25M. Corcoran Group launched the 43-unit development on January 4th.
Queens
16 contracts were signed in January, compared to 25 in December and 20 last year. The median sale price was $1,049,500, and the median PPSF was $1,246.
The 2 unit rehab condominium at 21-32 Bleeker Street was the only to offer new sponsor units last month.
Top Performers by Contract Volume
Vesta
Vesta, in Hunter's Point, reported 6 contracts for one- to three-bedroom condos priced from $950K to $1.985M. Serhant launched the 115-unit development last April and reports that 39 residences have sold, with another 26 under contract.
Report Methodology
- For "Top Performer by Contract Volume," if there is a tie by deal count, the building with the largest dollar volume of deals is selected
- Inventory movement is constant, considering reported contracts, recorded closings, and other relevant factors
- Report is based on reported contracts and may not represent all contracts signed
- Prices are based on the last asking price before a unit was put into contract
- New development contracts are sponsor stage projects that are eligible to sell units
- Data as of 2/1/2026
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