Press

Summer is typically a slow selling season for Manhattan real estate, and July 28 - August 3, 2025 was no exception. The number of Manhattan contracts signed dropped by 13% week-over week, making it one of the slowest sales weeks of 2025. Also during this time, only one contract came in over $10 million, and the number of luxury contracts (defined here as $4 million and up) significantly dipped week over week. This couldn't help but drive the aggregate dollar amount down as well. But while the past week was a quiet one, the whole month of July logged the highest contract tally since the pandemic.

Last week, a total of $30,600,000 across two contracts was signed at the forthcoming 255 East 77th Street. These included Penthouse B, which had the week's top contract with a $24,700,000 ask, or more than the total of the next two highest-priced contracts combined. The full-floor penthouse spans over 5,500 interior square feet and has a 358-square-foot private loggia with dramatic stone arches and views of Central Park. Several stories down, Residence #4A had the week's eighth-highest contract with a $5,900,000 ask. This four-bedroom residence has a corner Great Room, a split bedroom floor plan, and a discreetly tucked away kitchen with center island and top-of-the-line appliances by Miele and Sub-Zero. Occupancy is not estimated at 255 East 77th Street until next year, but these contracts bring the Robert A.M. Stern designed building to two-thirds sold. Remaining public availabilities range from a third-floor three-bedroom for $5,300,000 to a half-floor five-bedroom for $10,150,000.

The Upper East Side was also home to the top townhouse contract of the week. 111 East 61st Street entered contract with an asking price of $8,750,000; down 20% from the $10,995,000 the sellers initially sought when they listed it in August 2023, but still good enough for the third-highest contract of the week. It is not known how much the sellers paid for it.

From the Listing: Dramatic and beautifully designed with an elegant stone arched loggia, over 15- foot ceilings, and cinematic Central Park and skyline views, this full-floor penthouse at 255 East 77th Street is a stunning seven-bedroom residence that is classically proportioned and arranged. The dramatic 39-foot Great Room and primary suite hover over the cityscape, offering an extraordinary sense of scale and light. The kitchen, appointed with honed Calacatta marble and Miele appliances, opens to a sunlit breakfast area and den, creating a perfect flow for daily living and entertaining.