LUXURY MARKET REPORT 2019


Report on Contracts Signed
Manhattan Residential Properties
$4 Million and Above
April 1-7, 2019

27 Contracts Signed

Twenty-seven contracts were signed last week at $4 million and above, another solid performance in the Manhattan luxury real estate market since the middle of February. Condos outsold co-ops, 14-11, and 2 townhouses were in the mix. It was the highest number of co-op sales since the last week in May 2018.

The No.1 contract was Apartment 46AB at 151 East 58th Street, asking $24.9 million, reduced by $1 million when it went on the market a year ago. The seller was Jack Welch, the 83-year-old former chairman and CEO of General Electric. This 5,782-square-foot unit includes 4 bedrooms, 3.5 bathrooms, 11-foot ceilings, and spectacular views of Central Park and the East River. It is in the Beacon Court condo with amenities that include a concierge, fitness center, business/conference facilities, and valet parking.

The No. 2 contract was the 4th floor at 145 West 11th Street, asking $17.85 million, which sold within 90 days. The full floor has 4,529 square feet including 4 bedrooms, 4.5 bathrooms, a 35-foot living room, a 23-foot eat-in kitchen, a library, and media room. The owner paid $16,320,623 in October 2015. It is in the Greenwich Lane condo, a 5-building complex comprised of 193 condos and 5 townhouses. Amenities include a concierge, doorman, parking, fitness center, a 25-meter swimming pool, golf simulator, garden, residents’ lounge, and children’s playroom.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 8 2 0 1 Avg.Ask:
$7,328,636
11
Condos 1 2 2 9 Avg.Ask:
$8,807,714

Avg.$/sq.ft.:
$2,960/sq.ft.

Avg.Size:
2,975 sq.ft.
14
Condops * 0 0 0 0 Avg.Ask:


Avg.$/sq.ft.:


Avg.Size:
0
Townhouses 1 0 0 1 Avg.Ask:
$4,647,500

Avg.$/sq.ft.:
$1,423/sq.ft..

Avg.Size:
3,265 sq.ft.
2
TOTALS 10 4 2 11 27
Total Weekly Asking Price Sales Volume: $213,218,000
Average Asking Price: $7,896,963
Median Asking Price: $5,675,000
Average Discount from Original Ask to Last Asking Price: 5%
Average Days on Market: 454
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 25 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 2 CONTRACTS SIGNED ON TOWNHOUSES


Donna Olshan
President
dso@olshan.com

Emily Chen
Private Wealth Real Estate Services
Chief of Research
ecc@olshan.com

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Donna Olshan and Olshan Realty
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