Overview
- Douglas Elliman counted 176 signed Manhattan contracts at $4 million or more in November, up from 141 in October.
- Olshan Realty reported 151 luxury sales for November, a 31 percent month-over-month rise, with more than half of the Nov. 3–9 deals signed after the election.
- Manhattan’s median new-lease rent reached $4,750 in November, up 13 percent year over year, while the top 10 percent tier climbed 18 percent to a $11,500 median.
- Market watchers including Jonathan Miller, Donna Olshan and Corcoran’s Noble Black say robust financial markets and compensation are driving demand rather than a political exodus.
- Predictions of a post-election millionaire flight pushed by Florida brokers and some landlords are not evident in the data, as 2023 tax records show about 34,700 NYC millionaires and year-to-date luxury contracts exceed 1,300, tracking for the second-strongest year since 2006.