How a handful of projects reshape Manhattan’s luxury markets

Just a handful of addresses are driving the luxury market in some of Manhattan’s priciest neighborhoods.  Last quarter, signed contracts at the borough’s hottest new developments accounted for hefty shares of the luxury volume in their respective neighborhoods, boosting activity and, in some cases, doubling the median price per square foot.  The findings come from a new quarterly report published by Douglas Elliman’s Heather Domi, who launched a platform called Domi Data, backed by data from Marketproof.  In two neighborhoods, a single building contributed the majority of deals inked for homes asking $4.95 million and above during the three-month period.  […]

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