M
anhattan's luxury real estate market has seen a surge in signed contracts after Labor Day, with buyers snatching up 29 homes priced at $4 million or more. This marks a significant increase from the previous period's 17 contracts, according to Olshan Realty's weekly report. The most expensive property to secure a deal was a five-story townhouse at 45 East 74th Street, listed for $23.8 million. The property boasts six bedrooms, six bathrooms, four terraces, a basement swimming pool, and an elevator. The seller, Chinese real estate billionaire Zhang Xin, purchased the limestone mansion for $26 million in 2013, as reported by the New York Post. The property was initially sold in April but the deal fell through, and it was relisted last August. Carrie Chiang of Corcoran had the listing.

    The second most expensive home to secure a contract was a condo at the new development 140 Jane Street, priced at $23.3 million. The unit, sold off floor plans, will span 4,600 square feet with four bedrooms and four bathrooms. The plans also include a conservatory, balcony, 10-foot ceilings, and stunning views of the Hudson River. In June, the Attorney General approved the offering plan for the West Village condominium developed by Aurora Capital Partners, as reported by Marketproof. The 11-story building has a projected sellout of $401 million and offers amenities such as a doorman, automated parking garage, and lap pool.

    As we move into September, Manhattan's luxury real estate market continues to thrive, with 16 of the 29 homes sold by developers. The combined asking price for these homes was $236 million, resulting in an average price of $8.1 million and a median of $6.5 million. The typical home spent 756 days on the market and received a 5 percent discount.

    While Manhattan's luxury market remains strong, Brooklyn is poised to outpace it in new development sales. The Daily Dirt also explores the real estate descendants who choose to decline the family business.