Fair Housing Notice

LUXURY MARKET REPORT 2020
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
April 29-May 5, 2019

25 Contracts Signed

Twenty-five contracts were signed last week at $4 million and above. Condos outsold co-ops, 14 to 8, and 3 townhouses were in the mix. Of the 22 apartments, 5 were penthouses—but none was in the top 2 sales like last week.

Stat geek alert: On average, the 25 properties were reduced by 12% from their original asking price --and spent an average of 510 days on the market.

The No.1 contract was a sponsor unit on the 56th floor of 45 East 22nd Street, asking $15.995 million, reduced from $20.75 million when it was first listed off of floorplans in March 2015. This 4,665-square-foot condo has 4 bedrooms, 4.5 bathrooms, and sweeping, 360-degree views from the East River to the Hudson River. The apartment is in a new 65-story glass condo with 83 units next to Madison Square Park. Amenities include a fitness center, basketball court, children’s playroom, and an outdoor terrace.

The No. 2 contract was a brownstone at 215 East 61st Street, asking $11.95 million, reduced from $13.99 million when it was listed last July. The 18-foot-wide house was purchased for $5.9 million in March 2015 and then gut renovated. It has 5,900 square feet including 5 bedrooms, 6.5 bathrooms, a large kitchen that opens to a garden, an 11-zone central air conditioning system, and an elevator.



EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 5 3 0 0 Avg.Ask:
$6,126,250
8
Condos 1 6 0 7 Avg.Ask:
$6,625,714
Avg.$/sq.ft.:
$2,504/sq.ft.
Avg.Size:
2,609 sq.ft.
14
Condop* 0 0 0 0 Avg.Ask:
0
Townhouses Avg.Ask:
$8,466,667
Avg.$/sq.ft.:
$1,702/sq.ft.
Avg.Size:
4,973 sq.ft.
3
TOTALS 8 10 0 7 25


*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 22 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



Source: Olshan Realty




QUICK STATS

for the week of
April 29-May 5, 2019
Total Weekly Asking Price Sales Volume: 167,170,000

Average Asking Price: 6,686,800

Median Asking Price: 5,950,000

Average Discount from Original Ask to Last Asking Price: 12%

Average Days on Market: 510









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

. . . .