Manhattan's Luxury Market Rebounds, Drives Up Prices Amidst Condo Sales Slump

Manhattan's luxury housing market rebounded with 20 new signed contracts for homes asking at least $4 million in the week ending Sunday, marking a turnaround from a slow period in early September. The total sales volume increased three-fold to $160.1 million, with the most expensive home being a penthouse at a Giorgio Armani-branded development on the Upper East Side. The second priciest home was a Chelsea condo with views over the Hudson River.