Help assessing where we are and any risks? 35 y/o DINK couple

We are a married couple living in VHCOL here are the rough numbers:

$1m annual income (with bonus and RSUs not counted). Both stable jobs but subject to changes in the broader tech market.

$2m in pre-tax brokerage accounts

$1m in combined 401k accounts

$200k in private investments (can just assume it goes to zero)

We own a $1.2m townhome we purchased for $800k in 2021 (planning to sell at the end of this year for the favorable tax treatment as we lived in it in 2022-2024). We also own a $2.9m main residence with a $1.75m mortgage 7/6 at 4.875% interest.

Annual spend is around $250k including the mortgage and taxes. Does anything about this seem risky or off? I think ideally we would not have stretched so far for the home but it felt doable given income and if shit hits the fan we can cut it loose.