Fair Housing Notice

OLSHAN LUXURY MARKET REPORT
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
March 24-30, 2025

45 Contracts Signed

Forty-five contracts were signed last week in Manhattan at $4 million and above, 14 more than the previous week. Condos crushed co-ops, 35-8, with 2 townhouses in the mix. The top 2 deals were triplex penthouse condos sold by sponsors.

Stat Geek Alert: The 45-contract total is the largest since the week of December 13-19, 2021, when 54 contracts were signed totaling $431,564,000. Last week’s volume of $433,315,800 was fueled by 12 deals above $10 million.

Stat Geek Alert II: Twenty of the 35 condo deals were sold by sponsors and averaged $3,359/sq.ft. The average discount was 7% off the original asking price, while the sponsor properties sat an average 1,440 days on the market.

The No. 1 contract was PH72 at 111 West 57th Street, asking $56 million. The condo has 7,256 square feet and a 1,241-square-foot loggia. The triplex penthouse has 5 bedrooms and 4.5 baths. The bottom floor is a giant entertaining space with Central Park views and the south side opens onto a loggia with city views. The middle floor features a 50-foot living room with 14-foot ceilings and faces Central Park; it also has a formal dining room, eat-in kitchen, and a bedroom. The top floor has 4 bedrooms including a giant master suite with a sitting room and captivating views of Central Park. The 60-unit, 82-story building rises 1,428 feet on the former site of the Steinway & Sons piano store. Amenities include a concierge, a fitness center, 82-foot pool, lounge, terrace, and a private dining room, plus a covered driveway entrance. This is the 6th time this year that a unit in the building has been the No. 1 or No. 2 deal in this report.

The No. 2 contract was PHN at 108 Leonard Street, asking $24.5 million, raised from $22 million when the building started marketing in February 2018. The penthouse triplex is on the 14th thru 16th floors and has 6,252 square feet including 5 bedrooms, 5 baths, 2 powder rooms, and 2 terraces totaling 2,173 square feet. The 14th floor has a living room with 16-foot ceilings, arched windows, a kitchen, and bedroom. The 15th floor has 3 bedrooms and a 45-foot terrace. The top floor features a master bedroom suite with a sitting room and terrace on 2 sides. The 16-story, 152-unit condo has 20,000 square feet of amenities including doormen, valet parking, fitness center, lap pool, wine cellar, private dining room, playroom, and a landscaped rooftop terrace.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 4 3 0 1 Avg.Ask:
$7,091,250
8
Condos 6 5 5 19 Avg.Ask:
$10,202,594
Avg.$/sq.ft.:
$3,135/sq.ft.
Avg.Size:
3,254 sq.ft.
35
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 1 1 0 0 Avg.Ask:
$9,747,500
Avg.$/sq.ft.:
$1,769/sq.ft.
Avg.Size:
5,510 sq.ft.
2
TOTALS 11 9 5 20 . 45


*Condops are mixed-use co-op buildings with condo space typically in the commercial or non-residential portion of the building.

CLICK HERE TO VIEW 43 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW PAGE 2 OF 43 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 2 CONTRACTS SIGNED ON TOWNHOUSES

Donna Olshan, President
cell: 917-287-0458
home: 212-751-3300 x110
dso@olshan.com

Emily Chen, Private Wealth Real Estate Services
Chief of Research
917-853-9235
ecc@olshan.com

© 2025 Olshan Realty | All Rights Reserved.
This website, its content, and the Olshan Luxury Report is copyright of Olshan Realty.



Source: Olshan Realty




QUICK STATS

for the week of
March 24-30, 2025
Total Weekly Asking Price Sales Volume: $433,315,800

Average Asking Price: $9,629,240

Median Asking Price: $5,981,800

Average Discount from Original Ask to Last Asking Price: 9%

Average Days on Market: 816









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This website, its content, and the Olshan Luxury Report is copyright of Olshan Realty.