Forty-one contracts were signed last week in Manhattan at $4 million and above, 12 more than the previous week. Condos outsold co-ops, 26-10, with 5 townhouses in the mix.
Stat Geek Alert I: The luxury market continues to ride an impressive streak. Here are the totals in each of the last 4 weeks: 14, 22, 29, 41. Last week’s total was the largest since the week of May 2-8, 2022, when 43 contracts were also signed.
Stat Geek Alert II: Twenty of the 26 condos were sold by sponsors, the highest number of sponsor sales at $4 million and above since the week of February 28-March 6, 2022, when 21 such contracts were inked. The average asking price of the 20 sponsor units was $3,029/sq.ft. and the average size was 2,757 square feet.
The No. 1 contract was a townhouse at 973 Fifth Avenue, asking $49.9 million, reduced from $80 million when it was listed in July 2021. The 6-story, 25-foot-wide limestone house has 16,000 square feet including 10 bedrooms, 7 bathrooms, 3 powder rooms, 5 kitchens (you read that right!), and an elevator. The seller purchased the house for $42 million in 2012 and undertook a multi-year renovation. Annual real estate taxes total $296,148.
The No. 2 contract was 3N at 140 Jane Street, asking $22 million, raised from $20.5 million when the building started selling off floorplans in September. The condo has 4,590 square feet including 4 bedrooms and 4.5 bathrooms, plus a conservatory--a room with a stone floor and sliding glass doors that open onto a Juliet balcony. A 33’ x 15’ great room with almost 10-foot ceilings faces the Hudson River. The primary suite has 2 dressing rooms. This 11-story building was designed by BKSK architects and Leroy Street Studio, and 9 of 14 units have sold with an average asking price of $5,405/sq.ft. Amenities include a doorman, porte-cochere, automated parking garage, a lounge, fitness room, lap pool, and hot tub. The buyer is from the metro area.
. | EAST SIDE | WEST SIDE | MIDTOWN | DOWNTOWN | Asking $/sq.ft. | Totals |
---|---|---|---|---|---|---|
Co-ops | 9 | 0 | 0 | 1 | Avg.Ask: $7,904,500 |
10 |
Condos | 3 | 6 | 6 | 11 | Avg.Ask: $8,082,462 Avg.$/sq.ft.: $2,892/sq.ft. Avg.Size: 2,795 sq.ft. |
26 |
Condop* | 0 | 0 | 0 | 0 | Avg.Ask: Avg.$/sq.ft.: Avg.Size: |
0 |
Townhouses | 3 | 1 | 0 | 1 | Avg.Ask: $15,442,000 Avg.$/sq.ft.: $2,161/sq.ft. Avg.Size: 7,146 sq.ft. |
5 |
TOTALS | 15 | 7 | 6 | 13 | . | 41 |
CLICK HERE TO VIEW 36 CONTRACTS SIGNED ON APARTMENTS
CLICK HERE TO VIEW 5 CONTRACTS SIGNED ON TOWNHOUSES |
Donna Olshan, President |
Emily Chen, Private Wealth Real Estate Services
|
Donna Olshan President dso@olshan.com |
Emily Chen Private Wealth Real Estate Services Chief of Research ecc@olshan.com |