LUXURY MARKET REPORT 2019


Report on Contracts Signed
Manhattan Residential Properties
$4 Million and Above
October 14-20, 2019

19 Contracts Signed

Nineteen contracts were signed last week at $4 million and above, just shy of the 20 + benchmark that the Manhattan market hasn’t hit in 4 months. Condos outsold co-ops, 14 to 1, and 4 townhouses were in the mix. Only 1 condo was sold by a sponsor/developer.

The No. 1 contract was PH76B at 80 Columbus Circle, asking $30 million; it was listed in July. This 4,825-square-foot condo is in the residences above the Mandarin Oriental Hotel. The unit has 4 bedrooms and 5.5 bathrooms, a terrace off the living room and a 42-foot master suite that faces Central Park. The owner paid $30.55 million in July 2011. Condo amenities include a fitness center, landscaped terrace, a meeting room with Central Park views, and access to the hotel’s pool and spa.

The No. 2 contract was a townhouse at 3 East 94th Street, asking $24.5 million, reduced from $29.5 million when it was listed in November 2016. This 6-story, 25-foot-wide house has 9,850 square feet including 6 bedrooms, 6 bathrooms, 2 powder rooms, 5 fireplaces, an elevator, a garden on the ground floor, and a terrace on the top floor. It also has a media room, eat-in kitchen, and a finished basement with a 400-bottle wine cellar. The house was purchased in October 2010 for $18.5 million and then renovated. Annual real estate taxes are $197,525.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 0 1 0 0 Avg.Ask:
$4,295,000
1
Condos 2 3 2 7 Avg.Ask:
$7,193,571

Avg.$/sq.ft.:
$2,546/sq.ft.

Avg.Size:
2,826 sq.ft.
14
Condops * 0 0 0 0 Avg.Ask:


Avg.$/sq.ft.:


Avg.Size:
0
Townhouses 2 1 0 1 Avg.Ask:
$13,510,000

Avg.$/sq.ft.:
$1,918/sq.ft..

Avg.Size:
7,043 sq.ft.
4
TOTALS 4 5 2 8 19
Total Weekly Asking Price Sales Volume: $158,919,999
Average Asking Price: $8,364,210
Median Asking Price: $5,900,000
Average Discount from Original Ask to Last Asking Price: 8%
Average Days on Market: 196
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 15 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 4 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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