Fair Housing Notice

LUXURY MARKET REPORT 2020
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
December 10-16, 2018

16 Contracts Signed

Sixteen contracts were signed last week at $4 million and above, the weakest performance for mid-December since 2011, when 13 contracts were signed. Condos outsold co-ops, 11 to 3, and 2 townhouses were in the mix. Five properties went to contract asking above $10 million.

Stat Geek Alert: For the 3rd time this year, properties averaged more than 700 days on the market. The other 2 weeks: one in January and one in October.

The No.1 contract was a townhouse at 9 East 84th Street, asking $20.25 million. This 25-foot-wide limestone house has 12,500 square feet including 7 bedrooms and 9 bathrooms. It suffered extensive damage in March 2017, when a fire ripped through the neighboring townhouse at 7 East 84th Street. The house was repaired, and is being delivered as a white box with new mechanical systems and an elevator. The owner paid $15.35 million in April 2007.

The No. 2 contract was PH52B at 56 Leonard, asking $17.75 million, raised from $15 million when it was first offered off of floorplans in 2013. The unit has 3,709 square feet including 4 bedrooms and 4.5 bathrooms, plus a balcony off the master suite. It features 14-foot-high ceilings, and has breathtaking city and Hudson River views. 56 Leonard is a 60-story, 145-unit condo designed like a glass obelisk by Pritzker Prize-winning architects Herzog & de Meuron. It has 17,000 square feet of amenities including a 75-foot pool, indoor/outdoor theaters, landscaped sundeck, fitness center, sauna, lounge, and a children’s playroom.



EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 1 1 0 1 Avg.Ask:
$7,361,667
3
Condos 2 2 0 7 Avg.Ask:
$7,807,273
Avg.$/sq.ft.:
$3,100/sq.ft.
Avg.Size:
2,519 sq.ft.
11
Condop* 0 0 0 0 Avg.Ask:
0
Townhouses Avg.Ask:
$12,325,000
Avg.$/sq.ft.:
$1,550/sq.ft.
Avg.Size:
7,950 sq.ft.
2
TOTALS 4 3 1 8 16


*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 14 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

© 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
December 10-16, 2018
Total Weekly Asking Price Sales Volume: 132,615,000

Average Asking Price: 8,288,438

Median Asking Price: 5,627,500

Average Discount from Original Ask to Last Asking Price: 6%

Average Days on Market: 728









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