Fair Housing Notice

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

21 Contracts Signed

Twenty-one contracts were signed last week at $4 million and above, fueled once again by discounts. The average price was slashed by 17% off the original asking price before a property went to contract. The average days on the market swelled to 541.

The No.1 contract was 58/59B at 252 East 57th Street, asking $13.875 million, reduced from $14.875 when it was listed off of floorplans in September 2014 by the developer. Now completed, the duplex condo has 4,516 square feet with 5 bedrooms and 5.5 bathrooms, and a 40-foot living room featuring spectacular views of Central Park and the East River. It also has 11-foot-high ceilings. The building was designed by Skidmore, Owings & Merrill, and amenities include a concierge, garage, fitness center, a children’s playroom, a 75-foot swimming pool, a library, billiards and screening rooms, a catering kitchen, dining room, bicycle and storage rooms, and furnished guest suites. A play space and grooming station for dogs are also available.

The No. 2 contract was a townhouse at 30 Sullivan Street, asking $12.5 million, reduced from $13.95 million when it went on the market in April. The owner paid $8,233,333 in August 2016. The house is 25 feet wide with 5,900 square feet plus terraces totaling 1,525 square feet. The house is in mint condition with 11-foot ceilings, 4 bedrooms, 4 bathrooms, a staff room, and 3 powder rooms.



EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 2 0 0 2 Avg.Ask:
$6,048,750
4
Condos 1 1 2 9 Avg.Ask:
$7,720,769
Avg.$/sq.ft.:
$2,830/sq.ft
Avg.Size:
2,728 sq.ft.
13
Condop* 0 0 0 0 Avg.Ask:
0
Townhouses Avg.Ask:
$7,998,625
Avg.$/sq.ft.:
$2,348/sq.ft.
Avg.Size:
3,407sq.ft.
4
TOTALS 3 2 2 14 21


*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 17 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 4 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
October 22-28, 2018
Total Weekly Asking Price Sales Volume: 156,559,500

Average Asking Price: 7,455,214

Median Asking Price: 6,500,000

Average Discount from Original Ask to Last Asking Price: 17%

Average Days on Market: 541









© 2024 Olshan Realty, Inc. | All Rights Reserved. | Established 1980
641 Lexington Avenue, Suite 2200, New York, NY 10022 | 212-751-3300 | Privacy Policy

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

. . . .