Manhattan’s Q1 new development market was largely driven by sales of residences priced at $10 million and above, with 56 contracts signed*, more than during any period this decade. It was up 87 percent from Q1 2025 (30 contracts signed) and up 176 percent over the 10-year average (20 contracts signed), according to the Research & Advisory Division of Brown Harris Stevens Development Marketing’s (BHSDM) Q1 New Development Analysis of Manhattan and Brooklyn.
The $10 million-plus sector also accounted for 55 percent of contract-signed dollar volume, based on last-asking prices, and helped total contract-signed sales volume for new development based on last asking price surpass $2 billion* for only the fifth time in at least a decade.
*(Contracts Signed, Realized Demand, and Sales Volume do not take into account unreported deals at 80 Clarkson Street, so Q1 2026 totals are likely even higher than the numbers reported.)
“The highest-end of the market is moving well, particularly in desirable locations that have, for years, lacked new inventory. This is the case at 200 West 88th Street where we are seeing a tremendous amount of interest prior to the formal launch of sales” said Stephen Kliegerman, president, BHSDM.
BHSDM’s data and analysis was widely covered, including in The Real Deal and Robb Report. For more information from the report, please contact BHSDM’s Research & Advisory Division at research@bhsdm.com.
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