LUXURY MARKET REPORT 2020
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
January 22-28, 2018

15 Contracts Signed

Fifteen contracts were signed last week at $4 million and above, capping a month in which a total of only 68 contracts were recorded, a 29% decline over January 2017. What’s more, it was the lowest total since January 2012, when 40 contracts were signed. Among the factors: January is typically a weak month; extreme cold for much of the period kept potential buyers indoors; and some customers paused to assess the impact of the new tax law, which was signed in late December.

The No.1 contract was 3/4E at 271 Central Park West, asking $17.75 million, sold by actor Bruce Willis, who paid $16.995 in March 2015. The duplex co-op with 6 bedrooms and 4.5 bathrooms sold within a week of listing. Upstairs: The living room, formal dining room, eat-in kitchen, and den all face Central Park. Downstairs: 4 of the 6 bedrooms face Central Park.

The No. 2 contract was a townhouse that comes with a rear carriage house at 131 Charles Street, asking $10.8 million, reduced from $13.5 million when it went on the market in April 2015. A rear garden separates the 4-story, 25-foot-wide house and the 2-story carriage house. The main house has 4 bedrooms and 3 bathrooms, while the 900-square-foot carriage house has 2 bedrooms and 2 bathrooms.



EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 2 2 0 1 Avg.Ask:
$9,068,800
5
Condos 0 0 0 7 Avg.Ask:
$5,174,284
Avg.$/sq.ft.:
$2,342/sq.ft.
Avg.Size:
2,209 sq.ft.
7
Condop* 0 0 0 0 Avg.Ask:
0
Townhouses Avg.Ask:
$9,566,667
Avg.$/sq.ft.:
$1,870/sq.ft.
Avg.Size:
5,116 sq.ft.
3
TOTALS 2 2 0 11 15


*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 3 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


Select a Date to compare 2020 with previous years

Source: Olshan Realty




QUICK STATS

for the week of
January 22-28, 2018
Total Weekly Asking Price Sales Volume: 110,263,990

Average Asking Price: 7,350,933

Median Asking Price: 5,995,000

Average Discount from Original Ask to Last Asking Price: 16%

Average Days on Market: 566









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