LUXURY MARKET REPORT 2019


Report on Contracts Signed
Manhattan Residential Properties
$4 Million and Above
December 16-22, 2019

18 Contracts Signed

Eighteen contracts were signed last week at $4 million and above, continuing the much-appreciated Santa Claus relief rally. It was the best first three weeks of December in the past 3 years.

For the 2nd week in a row, a Time Warner Center condo took the top stop—this time, PH75AB at 80 Columbus Circle, asking $38.5 million; it was listed in August. The 5,327-square-foot unit has 5 bedrooms and 5.5 bathrooms that was purchased from the sponsor for $15,627,082 in 2004. The apartment has more than 100 feet overlooking Central Park, and was renovated by designer Juan Montoya. Monthly common charges and taxes total $25,838. Amenities include a fitness center, landscaped terrace, and access to the Mandarin Oriental Hotel’s pool and spa.

The No. 2 contract was a townhouse at 154 East 63rd Street, asking $18.95 million, reduced from $21.8 million when it was listed in May. The 5-story house has a super-sized width of 32 feet, a rare residential property that also comes with a garage. It has over 9,000 square feet including 4 bedrooms, 3 bathrooms, and 4 powder rooms. It features a 28-foot great room with 20-foot ceilings that open onto a courtyard/terrace. Annual real estate taxes total $137,652.

Stat Geek Alert: In keeping with our Holiday tradition, Olshan Realty will publish its 2019 Year End Report later today. It will be sent separately to our subscribers. Look for it in a couple of hours.

CLICK HERE To View the Olshan 2019 Year End Luxury Report.

Happy Holidays to All!!!



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 2 2 0 1 Avg.Ask:
$6,938,000
5
Condos 0 2 1 9 Avg.Ask:
$10,006,167

Avg.$/sq.ft.:
$3,190/sq.ft.

Avg.Size:
3,137 sq.ft.
12
Condops * 0 0 0 0 Avg.Ask:


Avg.$/sq.ft.:


Avg.Size:
0
Townhouses 1 0 0 0 Avg.Ask:
$18,950,000

Avg.$/sq.ft.:
$2,106/sq.ft..

Avg.Size:
9,000 sq.ft.
1
TOTALS 3 4 1 10 18
Total Weekly Asking Price Sales Volume: $173,714,000
Average Asking Price: $9,650,000
Median Asking Price: $6,995,000
Average Discount from Original Ask to Last Asking Price: 9%
Average Days on Market: 529
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 17 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
All Rights Reserved




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