LUXURY MARKET REPORT 2019


Report on Contracts Signed
Manhattan Residential Properties
$4 Million and Above
September 30-October 6, 2019

14 Contracts Signed

Fourteen contracts were signed last week at $4 million and above, a fairly decent total for activity during a week coinciding with the 2-day Jewish New Year‘s celebration (Rosh Hashanah).

The No. 1 contract was 67B at 157 West 57th Street, asking $22 million, reduced from $27 million when the apartment was listed in July 2017. The owner paid $28,005,375 in August 2015 when it was purchased from the sponsor Extell. The condo has 4,116 square feet including 3 bedrooms and 3.5 bathrooms, plus spectacular views of Central Park from the living room, foyer, and master suite. 157 West 57th Street was designed by Pritzker Prize-winning architect Christian de Portzamparc, with interiors by Thomas Juul-Hansen. The 90-story, 90-unit condo was built above the 5-star Park Hyatt hotel that has a separate entrance for its 210 rooms. Amenities include use of hotel services, fitness center, pool, private dining, a library lounge, performance space, and a garage.

The No. 2 contract was a townhouse at 45 East 68th Street, asking $18.5 million, reduced from $22.95 million when it was listed in September 2017. This 25-foot-wide, brick-and-limestone house has 10,839 square feet, and is being sold by the Consulate General of France. The house is divided into 5 apartments and needs work.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 2 1 0 1 Avg.Ask:
$7,523,750
4
Condos 0 0 1 6 Avg.Ask:
$7,730,714

Avg.$/sq.ft.:
$3,174/sq.ft.

Avg.Size:
2,436 sq.ft.
7
Condops * 0 0 0 0 Avg.Ask:


Avg.$/sq.ft.:


Avg.Size:
0
Townhouses 2 1 0 0 Avg.Ask:
$11,315,000

Avg.$/sq.ft.:
$1,588/sq.ft..

Avg.Size:
7,124 sq.ft.
3
TOTALS 4 2 1 7 14
Total Weekly Asking Price Sales Volume: $118,155,000
Average Asking Price: $8,439,643
Median Asking Price: $6,100,000
Average Discount from Original Ask to Last Asking Price: 9%
Average Days on Market: 637
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 11 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 3 CONTRACTS SIGNED ON TOWNHOUSES


Donna Olshan
President
dso@olshan.com

Emily Chen
Private Wealth Real Estate Services
Chief of Research
ecc@olshan.com

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Donna Olshan and Olshan Realty
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