Fair Housing Notice

LUXURY MARKET REPORT 2020
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
September 2-8 2019

10 Contracts Signed

Ten contracts were signed last week at $4 million and above, the lowest post-Labor Day week total since 2012, when only 5 contracts were signed.

The No. 1 contract was 61B at 157 West 57th Street, asking $22 million. The seller paid $23,533,633 in June 2018 and relisted the unit in July 2019. The condo has 4,193 square feet including 3 bedrooms and 3.5 bathrooms. A 43’ x 30’ great room, master bedroom, and gallery have 11’10” ceilings and face Central Park. The building 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 a fitness center, pool, private dining, a library lounge, a performance space, and a garage.

The No. 2 contract was 4W at 555 West End Avenue, asking $8.4 million. The unit has 2,716 square feet including 4 bedrooms and 4.5 bathrooms. A 28-foot living room, eat-in kitchen, and master bedroom face north onto 87th Street, and has 12-foot ceilings. 555 West End is the former St. Agnes Boys High School that was converted into a 13-unit condo building. Amenities include a 24-hour-doorman, fitness center, a game room/recreation room, storage, and a bike room. It started marketing a year ago, and during that time has reported 2 contracts at asking prices averaging $3,130/sq.ft.



EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 0 0 0 0 Avg.Ask:
0
Condos 0 1 3 3 Avg.Ask:
$7,520,000
Avg.$/sq.ft.:
$2,894/sq.ft.
Avg.Size:
2,599 sq.ft.
7
Condop* 0 0 0 0 Avg.Ask:
0
Townhouses Avg.Ask:
$5,341,667
Avg.$/sq.ft.:
$1,271/sq.ft.
Avg.Size:
4,203 sq.ft.
3
TOTALS 0 3 3 4 10


*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 7 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
September 2-8 2019
Total Weekly Asking Price Sales Volume: 68,665,000

Average Asking Price: 6,886,500

Median Asking Price: 4,725,000

Average Discount from Original Ask to Last Asking Price: 7%

Average Days on Market: 667









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