Fair Housing Notice

OLSHAN LUXURY MARKET REPORT
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
April 10-16, 2023

26 Contracts Signed

Twenty-six contracts were signed last week in Manhattan at $4 million and above, 4 more than the previous week. Condos outsold co-ops, 16-5, and 5 townhouses were in the mix. Two duplex condos scored the top 2 slots.

The No. 1 contract was 17S at 111 West 57th Street, asking $15.75 million, reduced from $17.995 million when this condo building started marketing off of floorplans in 2016. The duplex has 4,768 square feet including 4 bedrooms and 5.5 bathrooms. It features a 33’ x 15’ living room with a double height ceiling.

111 West 57th Street is a 60-unit, 82-story building that rises 1,428 feet on the former site of the Steinway & Sons piano store. Amenities include a concierge, a fitness center, 82-foot pool, lounge, terrace, and a private dining room, plus a covered driveway entrance. Nineteen units have closed averaging $5,254/sq.ft.

The No. 2 contract was 1112 at 225 West 86th Street, asking $13.195 million. This prewar condo has 4,637 square feet including 6 bedrooms and 6.5 bathrooms. It also features a 27-foot living room with a gas fireplace, a library, and an eat-in kitchen with Molteni cabinets. An upstairs master and 2nd bedroom open onto a 40-foot-wide terrace. The building is called the Belnord, a prewar rental turned condo with the renovation designed by Robert A.M.Stern. Amenities include doormen, fitness center, children’s playroom, and lounge. The Belnord has garnered considerable notice since appearing as the backdrop for 3 seasons in the Netflix series Only Murders in the Building, starring Steve Martin and Martin Short.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 2 1 2 0 Avg.Ask:
$6,530,000
5
Condos 2 5 2 7 Avg.Ask:
$7,145,813
Avg.$/sq.ft.:
$2,384/sq.ft.
Avg.Size:
2,997 sq.ft.
16
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 3 1 0 1 Avg.Ask:
$8,789,000
Avg.$/sq.ft.:
$1,952/sq.ft.
Avg.Size:
4,503 sq.ft.
5
TOTALS 7 7 4 8 . 26


*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 21 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 5 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
April 10-16, 2023
Total Weekly Asking Price Sales Volume: $190,928,000

Average Asking Price: $7,343,385

Median Asking Price: $5,972,500

Average Discount from Original Ask to Last Asking Price: 10%

Average Days on Market: 658









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