Fair Housing Notice

OLSHAN LUXURY MARKET REPORT
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
February 10-16, 2025

41 Contracts Signed

Forty-one contracts were signed last week in Manhattan at $4 million and above, 12 more than the previous week. Condos outsold co-ops, 26-10, with 5 townhouses in the mix.

Stat Geek Alert I: The luxury market continues to ride an impressive streak. Here are the totals in each of the last 4 weeks: 14, 22, 29, 41. Last week’s total was the largest since the week of May 2-8, 2022, when 43 contracts were also signed.

Stat Geek Alert II: Twenty of the 26 condos were sold by sponsors, the highest number of sponsor sales at $4 million and above since the week of February 28-March 6, 2022, when 21 such contracts were inked. The average asking price of the 20 sponsor units was $3,029/sq.ft. and the average size was 2,757 square feet.

The No. 1 contract was a townhouse at 973 Fifth Avenue, asking $49.9 million, reduced from $80 million when it was listed in July 2021. The 6-story, 25-foot-wide limestone house has 16,000 square feet including 10 bedrooms, 7 bathrooms, 3 powder rooms, 5 kitchens (you read that right!), and an elevator. The seller purchased the house for $42 million in 2012 and undertook a multi-year renovation. Annual real estate taxes total $296,148.

The No. 2 contract was 3N at 140 Jane Street, asking $22 million, raised from $20.5 million when the building started selling off floorplans in September. The condo has 4,590 square feet including 4 bedrooms and 4.5 bathrooms, plus a conservatory--a room with a stone floor and sliding glass doors that open onto a Juliet balcony. A 33’ x 15’ great room with almost 10-foot ceilings faces the Hudson River. The primary suite has 2 dressing rooms. This 11-story building was designed by BKSK architects and Leroy Street Studio, and 9 of 14 units have sold with an average asking price of $5,405/sq.ft. Amenities include a doorman, porte-cochere, automated parking garage, a lounge, fitness room, lap pool, and hot tub. The buyer is from the metro area.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 9 0 0 1 Avg.Ask:
$7,904,500
10
Condos 3 6 6 11 Avg.Ask:
$8,082,462
Avg.$/sq.ft.:
$2,892/sq.ft.
Avg.Size:
2,795 sq.ft.
26
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 3 1 0 1 Avg.Ask:
$15,442,000
Avg.$/sq.ft.:
$2,161/sq.ft.
Avg.Size:
7,146 sq.ft.
5
TOTALS 15 7 6 13 . 41


*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 36 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 5 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
February 10-16, 2025
Total Weekly Asking Price Sales Volume: $366,399,000

Average Asking Price: $8,936,561

Median Asking Price: $6,495,000

Average Discount from Original Ask to Last Asking Price: 16%

Average Days on Market: 962









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