Trophy Properties Dominate New York City Luxury Sales and They’re All in The Same Part of Town

Luxury sales remained strong in New York City, with 31 contracts signed for a total asking-price sales volume worth $367,333,000.

Condos outsold co-ops 21-7. Among those sales, nine contracts were trophy properties at $10 million and above and all located downtown, according to the Olshan Luxury Market Report for the week ending April 5.

"It's spring and high sales season in every category. The luxury buyer doesn't wait on interest rates; they buy when they feel like it. 2025 produced a robust bonus season paid out in the first quarter of 2026, generating a new crop of buyers," says Donna Olshan, president at Olshan Realty.

The No. 1 contract is two combined townhomes in the West Village. 105-107 Bank Street has an asking price of $75 million. It's one of the most expensive downtown deals.

The report says the property was originally two walkup houses divided into rentals.

"Supposedly, at one point John Lennon and Yoko Ono occupied the top floor," according to the Olshan Report.

The townhomes were combined into one when, in 2021 and 2022, the properties were purchased for a total of $18.11 million by a developer/builder.

Today, it's a six-story home that's 40 feet wide and 13,000 square feet. It has six bedrooms, eight bathrooms, two powder rooms, an elevator, a theater room, fitness space and sauna, and a 1,600 bottle wine cellar. Annual property taxes are $113,592.

Downtown deals

The No. 2 contract is located in the iconic Flatiron Building, which was originally built as an office building back in 1902. 175 Fifth Avenue, 21st Floor, has an asking price of $58.5 million. This unit has 7,408 square feet of living space, including five bedrooms and 5.5 bathrooms.

The residence has 13-foot ceilings and a 33-square-foot terrace/balcony at the front of triangular-shape of the building.

The great room overlooks Madison Square Park. Monthly common charges and real estate taxes are $29,415.

The building is still under construction—converting the units to condos. Once complete, there will be 38 units.

The other trophy properties under contract for the week ending April 5 are:

• 500 West 18th Street, West PH33B: $22,600,000
• 16 Fifth Avenue, 18: $17,500,000
• 140 Jane Street, 2S: $14,950,000
• 354 West 20th Street: $13,999,999 (townhome)
• 173 Macdougal Street, 5WE: $12,900,000
• 39 West 23rd Street, PH: $12,500,000
• 32 Walker Street, 3: $10,250,000

Luxury sales have continued to grow despite economic uncertainties. So far just days into April, 21 condos have sold, according to the Olshan Report—compared to 77 condo sold in April 2025.

"There is also something that I can't quantify, but it's from years of experience: When times are turbulent, people often look for a home to nest," Olshan explains. "We currently have significant headwinds: war, a roiling stock market, and stubbornly high interest rates. I don't think any of these things are going away in the short term, and it just underscores the importance of finding a home that serves as a refuge from disorder, disruption, and global chaos."