Fair Housing Notice

OLSHAN LUXURY MARKET REPORT
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
November 11-17, 2024

37 Contracts Signed

Thirty-seven contracts were signed last week in Manhattan at $4 million and above, 2 fewer than the previous week. Condos outsold co-ops, 26-9, with 2 townhouses in the mix.

Stat Geek Alert: The weekly volume of $364,685,000 is the largest since December 20-26, 2021, when $368,532,000 was totaled (2021 was the biggest year in the history of luxury real estate).

The No. 1 contract was PH11 at 140 Jane Street, asking $45 million. The condo has 5,653 square feet including 5 bedrooms and 5.5 bathrooms. A 51-foot living room and a dining room have almost 11-foot ceilings that face the Hudson River. A 23-foot master bedroom opens onto a balcony. Stairs in the unit lead to a 1,697-square-foot terrace with a hot tub---all overlooking the Hudson River. This 11-story, 14-unit building was designed by BKSK architects and Leroy Street Studio. Amenities include a doorman, porte-cochere, automated parking garage, a lounge, fitness room, lap pool, and hot tub.

The No. 2 contract was PH40A at 15 Central Park West, asking $39 million, reduced from $65 million when it started on the market in April 2023. The unit has 5,398 square feet including 4 bedrooms and 3.5 bathrooms. A great room, dining room, and office face Central Park. The sale rescued the unit from a U.C.C foreclosure. The condo was purchased for $22.7 million in January 2008 by an LLC linked to Russian billionaire Valery Kogan, who made his fortune as the co-owner of Moscow’s Domodedovo Airport. According to The Real Deal, Miami-based Rok Lending initiated a U.C.C. foreclosure alleging a $4.2 million default in loan payments. Rok had a $38 million loan tied to Kogan that was secured by interests in various properties. Since 2022, Kogan has listed properties worth hundreds of millions, ranging from condos in New York’s Plaza Hotel, 515 Park Avenue, and 15 Central Park West, plus houses in Greenwich, Ct., and Israel.

15 Central Park West was designed by architect Robert A.M. Stern. Amenities include a 14,000-square-foot fitness center with a 75-foot pool, a private restaurant for residents only, a landscaped motor court and garage, library, business center, game room, outdoor terrace, and children’s playroom.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 5 1 0 3 Avg.Ask:
$8,979,444
9
Condos 6 3 2 15 Avg.Ask:
$10,343,077
Avg.$/sq.ft.:
$3,416/sq.ft.
Avg.Size:
3,028 sq.ft.
26
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 2 0 0 0 Avg.Ask:
$7,475,000
Avg.$/sq.ft.:
$1,148/sq.ft.
Avg.Size:
6,513 sq.ft.
2
TOTALS 13 4 2 18 . 37


*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 35 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW PAGE 2 OF 35 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

© 2024 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
November 11-17, 2024
Total Weekly Asking Price Sales Volume: $364,685,000

Average Asking Price: $9,856,351

Median Asking Price: $6,400,000

Average Discount from Original Ask to Last Asking Price: 14%

Average Days on Market: 765









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

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