Fair Housing Notice

LUXURY MARKET REPORT 2020
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
January 1-7, 2018

12 Contracts Signed

Bombogenesis discombobulated the weather in Manhattan last week, and it also iced the luxury real estate market. Only 12 contracts were signed at $4 million and above, the lowest total for the first week of a new year since 2012.

The No.1 contract was 5E at 10 Madison Square West (a.k.a 1107 Broadway), asking $10.5 million, reduced by $1 million when it went on the market in August 2017. The corner unit has 2,871 square feet including 3 bedrooms and 3.5 bathrooms. The living room, kitchen, and master bedroom face Madison Square Park. The seller originally signed a contract in July 2013 when the building was being constructed and closed in March 2016 for $8,655,125. Amenities include a 10,000-square-foot fitness area with a 50-foot lap pool.

The No. 2 contract was 29C at 1 West End Avenue, asking $8.950 million. The unit has 3,917 square feet including 4 bedrooms, 4.5 bathrooms, and 11-foot ceilings. This new condo building offers a robust amenity package including a fitness center, a 75-foot pool, 12,000 square feet of terraces with cabanas and an outdoor kitchen, a children’s playroom, and a garage.



EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 1 3 0 1 Avg.Ask:
$5,278,000
5
Condos 0 2 0 5 Avg.Ask:
$7,356,429
Avg.$/sq.ft.:
$2,602/sq.ft.
Avg.Size:
2,827 sq.ft.
7
Condop* 0 0 0 0 Avg.Ask:
0
Townhouses Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
TOTALS 1 5 0 6 12


*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 0 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



Source: Olshan Realty




QUICK STATS

for the week of
January 1-7, 2018
Total Weekly Asking Price Sales Volume: 77,885,000

Average Asking Price: 6,490,417

Median Asking Price: 6,000,000

Average Discount from Original Ask to Last Asking Price: 8%

Average Days on Market: 371









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