Manhattan Luxury Sales Surge in Month After Mamdani’s Victory

Sales of luxury homes in Manhattan jumped in November, countering fears that the election of Zohran Mamdani as mayor would drive out wealthy residents.

Buyers signed contracts on 176 homes in Manhattan priced at $4 million or more in November, up 25% from the 141 deals inked the month prior, according to appraiser Miller Samuel Inc. and brokerage Douglas Elliman. That included condos at The 74 on the Upper East Side and at 53 West 53rd St. on Billionaires’ Row, which were purchased for roughly $24 million each.

In the leadup to the city’s mayoral race, critics of Mamdani claimed his election could ...