Fair Housing Notice

LUXURY MARKET REPORT 2022
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
August 8-14, 2022

15 Contracts Signed

Fifteen contracts were signed this past week at $4 million and above in Manhattan, 2 more than the previous week. Condos outsold co-ops, 10-3, and 2 townhouses were in the mix.

Stat Geek Alert: In the last 2 weeks, 28 contracts were signed in Manhattan at $4 million and above, comparable to the first 2 weeks in August of 2018. The 10-year average of contracts signed at $4 million and above in the first 2 weeks of August is 37 or 15.5 contracts per week.

The No. 1 contract was unit 1 at 95 Charles Street, asking $13,995,000; it was listed in the middle of July. The condo spans 6,261 square feet over 4 floors including 6 bedrooms, 4 bathrooms, 2 powder rooms, and 2 fireplaces. A dramatic great room with 16-foot ceilings opens onto a 1,295-square-foot garden with an outdoor kitchen. The apartment is in a 5-unit, 38-foot-wide building with an elevator but no amenities. The seller paid $8.5 million in 2008.

The No. 2 contract was 4/5A at 895 Park Avenue, asking $12 million; it was listed in June. This 12-room co-op duplex has 7 bedrooms, 7.5 bathrooms, and 4 fireplaces. It overlooks Park Avenue and 79th Street. The unit needs to be renovated and has been owned by the same family for over 50 years. Amenities include doormen, a fitness center with a squash/basketball court. and storage. The building allows 50% mortgage financing.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 2 1 0 0 Avg.Ask:
$7,433,333
3
Condos 3 2 1 4 Avg.Ask:
$6,828,599
Avg.$/sq.ft.:
$2,514/sq.ft.
Avg.Size:
2,716 sq.ft.
10
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 0 1 1 0 Avg.Ask:
$6,222,500
Avg.$/sq.ft.:
$1,616/sq.ft.
Avg.Size:
3,850 sq.ft.
2
TOTALS 5 4 2 4 . 15


*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 13 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



Source: Olshan Realty




QUICK STATS

for the week of
August 8-14, 2022
Total Weekly Asking Price Sales Volume: $103,030,990

Average Asking Price: $6,868,733

Median Asking Price: $5,950,000

Average Discount from Original Ask to Last Asking Price: 3%

Average Days on Market: 681









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