LUXURY MARKET REPORT 2019


Report on Contracts Signed
Manhattan Residential Properties
$4 Million and Above
May 6-12, 2019

23 Contracts Signed

Twenty-three contracts were signed last week at $4 million and above. While condos outsold co-ops, 17 to 4, with 2 townhouses in the mix, a familiar face took the top spot once again.

For the second time this year---and the 12th time since the start of January 2018---a unit at 432 Park Avenue has secured the No. 1 slot, and this time it was 86B, asking $39.5 million. The corner unit has 4,028 square feet including 3 bedrooms, 4.5 bathrooms, a library, and an eat-in kitchen. It features a 29’ x 29’ living room and spectacular north, south, and west views of Central Park and the Hudson River. The building is 96 stories high, a concrete-and-glass edifice designed by Rafael Vinoly that can be seen from almost anywhere in the 5 boroughs. Amenities include a fitness center, a 75-foot swimming pool, private dining room, parking, a garden, and a children’s playroom.

The No. 2 contract was PHA at 71 Laight Street, asking $20 million. The 4,600-square-foot unit includes 3 bedrooms, 4 bathrooms, an enormous wraparound landscaped terrace outfitted with a kitchen, pizza oven, and a hot tub. It also comes with a deeded parking spot and 2 storage units. The owner paid $20,365,000 in November 2015. Amenities in this the 33-unit condo known as the Sterling Mason include a doorman, gym, and children’s playroom.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 2 1 0 1 Avg.Ask:
$4,816,667
4
Condos 2 0 1 14 Avg.Ask:
$9,996,471

Avg.$/sq.ft.:
$3,072/sq.ft.

Avg.Size:
$3,254 sq.ft.
17
Condops * 0 0 0 0 Avg.Ask:


Avg.$/sq.ft.:


Avg.Size:
0
Townhouses 1 0 0 1 Avg.Ask:
$8,950,000

Avg.$/sq.ft.:
$2,144/sq.ft..

Avg.Size:
4,174 sq.ft.
2
TOTALS 5 1 1 16 23
Total Weekly Asking Price Sales Volume: $207,290,000
Average Asking Price: $9,012,609
Median Asking Price: $5,975,000
Average Discount from Original Ask to Last Asking Price: 7%
Average Days on Market: 494
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 21 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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