LUXURY MARKET REPORT 2020
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
January 7-13, 2019

13 Contracts Signed

Thirteen contracts were signed last week at $4 million and above, one more than during the same period in 2018. Condos outsold co-ops, 7 to 3, and 3 townhouses were in the mix.

The No.1 contract was 95A at 432 Park Avenue, asking $41.25 million. The developers, Harry Macklowe and CIM, also scored the top sale on the same floor in the final week of December by closing 95B at $30,191,920, a 26% discount off the asking price. Apartment 95A is a corner unit with 3,952 square feet including 3 bedrooms, a library, and 3.5 bathrooms. It features a 29’ x 29’ living room, an eat-in kitchen, and a 30-foot master suite. The unit has spectacular Central Park, Hudson and East River views. The building is 96 stories high, a concrete-and-glass edifice designed by Rafael Vinoly that can be seen from almost anywhere in the 5 boroughs. Amenities include a fitness center, a 75-foot swimming pool, private dining room, parking, a garden, and a children’s playroom.

The No. 2 contract was 60B at 157 West 57th Street, asking $28.9 million and sold by the developer Extell. The unit reportedly went to contract in the $22-million range. The 3-bedroom, 3.5-bathroom unit has 4,193 square feet including a 43’ x 30’ living room, an over 1000-square-foot master suite, and an entrance gallery—all with Central Park views. 157 West 57th Street was designed by Pritzker Prize-winning architect Christian de Portzamparc, with interiors by Thomas Juul-Hansen. The 90-story, 90-unit condo was built above the 5-star Park Hyatt Hotel, and has a separate entrance for its 210 rooms. Amenities include the use of the hotel’s fitness center and pool, and the condo has its own a private dining room, a library lounge, performance space, and a garage.



EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 1 1 0 1 Avg.Ask:
$5,481,667
3
Condos 0 2 4 1 Avg.Ask:
$15,605,000
Avg.$/sq.ft.:
$5,617/sq.ft.
Avg.Size:
2,778 sq.ft.
7
Condop* 0 0 0 0 Avg.Ask:
0
Townhouses Avg.Ask:
$6,065,000
Avg.$/sq.ft.:
$1,282/sq.ft.
Avg.Size:
4,733 sq.ft.
3
TOTALS 3 3 5 2 13


*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 10 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 7-13, 2019
Total Weekly Asking Price Sales Volume: 143,875,000

Average Asking Price: 11,067,308

Median Asking Price: 7,500,000

Average Discount from Original Ask to Last Asking Price: 1%

Average Days on Market: 564









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