LUXURY MARKET REPORT 2019


Report on Contracts Signed
Manhattan Residential Properties
$4 Million and Above
July 22-28, 2019

14 Contracts Signed

Fourteen contracts were signed last week at $4 million and above, one more than the previous week. And for the first time in almost a month, a property went to contract asking more than $10 million—which turned out to be the No. 1 contract.

That property was a townhouse at 50 Sullivan Street, asking $12.5 million, reduced from $17.25 million when it was listed in November 2016. This 25-foot-wide house is one of four townhouses developed as part of a 20-unit condo building at 10 Sullivan Street that was completed in 2016. 50 Sullivan Street is 4-stories with 5,975 square feet including 4 bedrooms, 4 bathrooms, 3 powder rooms, an elevator, and 1,525 square feet of outdoor space. The owner, tech investor Arthur Becker, bought the house for $12,933,334 in August of 2016. He also bought the 2 adjacent houses: 30 and 40 Sullivan Street. In April, he sold 30 Sullivan Street for $12,296,500.

The No. 2 slot was a tie between 2 properties asking $8.95 million: PH2 at 459 West 18th Street and 11B at 166 Duane Street.

PH2 at 459 West Street reduced its asking price by $1 million from when it was listed in April. The triplex condo has 3,447 square feet including 4 bedrooms and 4 bathrooms, plus a 970-square-foot roof terrace that features an outdoor kitchen and shower. The building has a part-time doorman. The owner paid $6.3 million in April 2011.

11B at 166 Duane Street, asking $8.95, started on the market in October at $10.695 million. The condo has 4,400 square feet including 4 bedrooms and 4 bathrooms. It has a 25’ x 36’ living room and 11-foot ceilings. Building amenities include a doorman and landscaped roof terrace. The owner paid $6.85 million in December 2010.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 3 1 0 0 Avg.Ask:
$4,971,250
4
Condos 0 3 0 5 Avg.Ask:
$6,509,250

Avg.$/sq.ft.:
$2,358/sq.ft.

Avg.Size:
2,761 sq.ft.
8
Condops * 0 0 0 0 Avg.Ask:


Avg.$/sq.ft.:


Avg.Size:
0
Townhouses 0 0 0 2 Avg.Ask:
$8,825,000

Avg.$/sq.ft.:
$1,579/sq.ft.

Avg.Size:
5,588 sq.ft.
2
TOTALS 3 4 0 7 14
Total Weekly Asking Price Sales Volume: $89,609,000
Average Asking Price: $6,400,643
Median Asking Price: $5,322,500
Average Discount from Original Ask to Last Asking Price: 15%
Average Days on Market: 470
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 12 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

© 2019
Donna Olshan and Olshan Realty
All Rights Reserved











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