LUXURY MARKET REPORT 2019


Report on Contracts Signed
Manhattan Residential Properties
$4 Million and Above
October 21-27, 2019

9 Contracts Signed

Only 9 contracts were signed last week at $4 million and above, the 4th time this year that the weekly total fell below 10. In addition, not a single co-op contract was signed—the third time this has happened this year.

The No.1 contract was 65A at 432 Park Avenue, asking $29.9 million. The unit was purchased for $26,436,176 in December 2017. The condo has 4,019 square feet including 3 bedrooms, 4.5 bathrooms, and a library. It has 12.5’- ceilings and windows that measure 10’ x 10’, affording south, east, and north views of Central Park. 432 Park is 96 stories high with 106 units, a concrete-and-glass edifice designed by Rafael Vinoly; it is 1,396 feet tall and 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 PH1 at 135 West 52nd Street, asking $13.5 million, reduced from $16.8 million when it was listed by the sponsor in 2015. The triplex condo has 5,153 square feet including 5 bedrooms and 4 bathrooms, plus 2 powder rooms. It has a 32-foot living room with 18-foot ceilings and 3 terraces that total 1,101 square feet. Amenities include a concierge, a fitness center with a golf simulator, a 75-foot lap pool, and children’s playroom.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 0 0 0 0 Avg.Ask:
0
Condos 1 1 2 4 Avg.Ask:
$10,282,000

Avg.$/sq.ft.:
$2,898/sq.ft.

Avg.Size:
3,547 sq.ft.
8
Condops * 0 0 0 0 Avg.Ask:


Avg.$/sq.ft.:


Avg.Size:
0
Townhouses 0 0 0 1 Avg.Ask:
$7,995,000

Avg.$/sq.ft.:
$1,902/sq.ft..

Avg.Size:
4,204 sq.ft.
1
TOTALS 1 1 2 5 9
Total Weekly Asking Price Sales Volume: $92,538,000
Average Asking Price: $10,282,000
Median Asking Price: $7,500,000
Average Discount from Original Ask to Last Asking Price: 10%
Average Days on Market: 457
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 8 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 1 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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