Fair Housing Notice

LUXURY MARKET REPORT 2022
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
August 1-7, 2022

13 Contracts Signed

Thirteen contracts were signed last week in Manhattan at $4 million and above, 11 fewer than the previous week—a sign that the dog days of summer are nipping at the heels of the luxury real estate market. Condos outsold co-ops, 10-2, and 1 townhouse was in the mix.

Stat Geek Alert: Total volume was $95,243,000, the lowest since the week of October 12-18, 2020, when 14 deals were inked totaling $92,210,000.

The No. 1 contract was S16A at 565 Broome Street, asking $14.95 million, raised from $13.5 million when the sponsor started selling units off of floorplans in September 2016. The duplex condo has 3,397 square feet including 3 bedrooms, 3.5 bathrooms, and a 2,200-square-foot terrace, which includes the perfect heat-wave antidote: a 25-foot saline pool and outdoor shower.

565 Broome Street was designed by Pritzker Prize-winning architect Renzo Piano, who also designed the new Whitney Museum. Amenities in this 30-story, 115-unit building include a concierge, fitness center, a 55-foot indoor lap pool, a sauna, and a yoga studio. There is also a children’s playroom and parking.

The No. 2 contract was the 6th floor at 47 East 91st Street, asking $11.5 million, reduced from $11.9 million when it was listed in April. The full-floor condo has 4,007 square feet including 5 bedrooms, a library, and 5.5 bathrooms. A 37.5-foot great room with a fireplace and 2 of the bedrooms face Madison Avenue. The building is comprised of 8 units and a doorman. The owner paid $8,375,738 in January 2005.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 0 1 0 1 Avg.Ask:
$5,699,000
2
Condos 2 3 0 5 Avg.Ask:
$7,851,000
Avg.$/sq.ft.:
$2,854/sq.ft.
Avg.Size:
2,751 sq.ft.
10
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 0 0 1 0 Avg.Ask:
$5,395,000
Avg.$/sq.ft.:
$1,978/sq.ft.
Avg.Size:
2,728 sq.ft.
1
TOTALS 2 4 1 6 . 13


*Condops are mixed-use co-op buildings with condo space typically in the commercial or non-residential portion of the building.

CLICK HERE TO VIEW 12 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 1 CONTRACTS SIGNED ON TOWNHOUSES

Donna Olshan, President
cell: 917-287-0458
home: 212-751-3300 x110
dso@olshan.com

Emily Chen, Private Wealth Real Estate Services
Chief of Research
917-853-9235
ecc@olshan.com

© 2024 Olshan Realty | All Rights Reserved.
This website, its content, and the Olshan Luxury Report is copyright of Olshan Realty.



Source: Olshan Realty




QUICK STATS

for the week of
August 1-7, 2022
Total Weekly Asking Price Sales Volume: $95,243,000

Average Asking Price: $7,326,385

Median Asking Price: $6,000,000

Average Discount from Original Ask to Last Asking Price: 2%

Average Days on Market: 540









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This website, its content, and the Olshan Luxury Report is copyright of Olshan Realty.

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