LUXURY MARKET REPORT 2020
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
July 2-8, 2018

20 Contracts Signed

Twenty contracts were signed last week at $4 million and above, an impressive total considering that the July 4th holiday blew a hole in the middle of the week. Weekly totals of contracts signed have not dipped below 20 since the end of January.

For only the fifth time this year, the No. 1 contract was a co-op: 14C at 888 Park Avenue, asking $14 million. This 10-room apartment has 4 bedrooms and 4 bathrooms. The baronial living room with a wood-burning fireplace, 2 bedrooms, library, and one bathroom overlook Park Avenue. The unit has been on the market since February 2017, and needs to be renovated.

The No. 2 contract was 50A at 277 Fifth Avenue, asking $12 million. This new condo has 2,333 square feet including 3 bedrooms and 3.5 bathrooms, and features a dramatic 20-foot ceiling in the living room, which opens onto a loggia/terrace measuring approximately 13 x 13 feet . Rafael Vinoly designed this 55-story, 130-unit condo; he was also the architect of 432 Park Avenue. Amenities include a concierge, a fitness center that opens onto a terrace, and a children’s playroom.



EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 3 0 0 2 Avg.Ask:
$7,898,750
5
Condos 0 7 1 5 Avg.Ask:
$6,765,414
Avg.$/sq.ft.:
$2,650/sq.ft.
Avg.Size:
2,553 sq.ft.
13
Condop* 0 0 0 0 Avg.Ask:
0
Townhouses Avg.Ask:
$6,075,000
Avg.$/sq.ft.:
$1,608/sq.ft.
Avg.Size:
3,776 sq.ft.
2
TOTALS 3 8 1 8 20


*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 18 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 2 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
July 2-8, 2018
Total Weekly Asking Price Sales Volume: 138,460,790

Average Asking Price: 6,923,040

Median Asking Price: 7,150,000

Average Discount from Original Ask to Last Asking Price: 5%

Average Days on Market: 269









OLSHAN REALTY, INC. | Established 1980
641 Lexington Avenue, Suite 2200, New York, NY 10022 | 212-751-3300 | Privacy Policy