Fair Housing Notice

LUXURY MARKET REPORT 2021
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
May 3-9, 2021

42 Contracts Signed

Forty-two contracts were signed last week at $4 million and above, one more than the previous week. Which represents another milestone: 5 straight weeks of 40 or more contracts signed at $4 million and above, the longest such streak since we started keeping track in 2006. And here’s another record-busting streak for you: 14 straight weeks of 30 or more contracts signed!

Stat Geek Alert: The good news goes on and on: More contracts have been signed thus far this year at $4 million and above----694 ---than all of last year.

The No. 1 contract was a townhouse at 26 Bank Street, asking $19,995,000 when it was listed in February. The seller of this 4-story, 19.5-foot-wide house was reportedly Connie Milstein of the real estate Milstein family dynasty, who had purchased the house for $17,850,000 in October 2017. It has 4,664 square feet including 4 bedrooms, 3.5 bathrooms, and 2 fireplaces. A large eat-in kitchen opens onto a garden. A dramatic glass atelier opens onto a rooftop terrace. The house does not have an elevator.

The No. 2 contract was a 25-foot townhouse at 22 East 10th Street, asking $15 million. It was an off-market sale, and the house needs to be gut-renovated. It has 5,598 square feet that has been divided into 5 units.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 4 2 0 4 Avg.Ask:
$7,520,500
10
Condos 4 7 2 11 Avg.Ask:
$6,745,417
Avg.$/sq.ft.:
$2,492/sq.ft.
Avg.Size:
2,707 sq,ft.
24
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 0 2 1 5 Avg.Ask:
$9,942,500
Avg.$/sq.ft.:
$1,850/sq.ft.
Avg.Size:
5,373 sq.ft.
8
TOTALS 8 11 3 20 . 42


*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 34 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW PAGE 2 OF 34 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 8 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
May 3-9, 2021
Total Weekly Asking Price Sales Volume: $316,635,000

Average Asking Price: $7,538,929

Median Asking Price: $7,372,500

Average Discount from Original Ask to Last Asking Price: 6%

Average Days on Market: 413









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