Press

While June 2025 got off to a robust start in terms of Manhattan contracts signed, the past few weeks have seen dips in deals. The month has been marked by political and economic turmoil, and CityRealty data shows that June 2025 could be on track to a two-month low if things continue at this rate.

But New York City real estate is traditionally considered a safe investment, and a number of high-priced contracts were signed on the third full week of June 2025. These included eight townhouses among the twenty highest-priced contracts of the week.

The top contract of the week was for 11 West 12th Street, which was asking $27,000,000. It is also known as "the Forbes townhouse" in honor of longtime owner Malcolm S. Forbes, the magazine's former chairman and editor-in-chief.

Behind the red brick facade, the house contains such luxuries as as a double-height living room, a primary suite with two dressing rooms and outdoor space, an 8,000-bottle wine cellar, a home gym and sauna, a roof deck, and a private two-car garage. Entrepreneur/former Big Ass Fans owner J. Carey Smith bought the house for $20,000,000 in March 2019.

Also of note, it was a good week for new development penthouses in Gramercy. Penthouse D at The Willow, Naftali Group's forthcoming project on the corner of East 23rd Street and Third Avenue, entered contract with a $4,500,000 ask. A few blocks north at Hendrix House, Penthouse A entered contract with a $3,450,000 asking price. Both penthouses benefit from private outdoor space, well-appointed interiors, access to an array of wellness and social amenities in their buildings, and central addresses near local parks, popular restaurants, gourmet supermarkets, and several transportation options.