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The Most Expensive New York Homes Sold in June


The pace of closings slowed in New York City during the month of June as the coronavirus took a toll on buying activity.

The most expensive recorded transaction was a full-floor aerie near the apex of One57, once the city’s priciest condominium. The apartment sold in a private deal linked to a Chinese conglomerate for $28 million, a 41 percent discount from the original purchase price.

A deep reduction also took place at Time Warner Center’s Residences at the Mandarin Oriental, where a penthouse sold for $23 million, 25 percent below its purchase price nine years ago.

While the volume of sales contracts has been plummeting, the market is expected to rebound now that restrictions on real estate activity, instituted to curb the spread of the virus, have been eased. “It will feel like a boom initially,” said Jonathan J. Miller, a Manhattan real estate appraiser. “But it’s really a release of pent-up demand. We’re going to have a busy summer.”

Already brokers see some movement. “Since the reopening, I’ve seen an uptick in activity with requests for showings as well as apartments coming on the market,” said Chris Kann, an agent with the Corcoran Group. “People want to move on with their lives.”


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