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

11 Contracts Signed

Only 11 contracts were signed last week in Manhattan at $4 million and above, a typically slow week due to the Jewish High Holy Day of Yom Kippur. In a highly unusual event, co-ops outsold condos, 6-5.

Stat Geek Alert: Co-ops haven’t outsold condos in the Manhattan luxury market since the week of June 17-23, 2013. You read that right! Back then, the score was 13 co-ops to 12 condos.

The No. 1 contract was North 14A at 160 Leroy Street, asking $15.75 million, increased from $14.25 million when it was listed in 2016; at that time, it was marketed off of floorplans. The building, now completed, this 3,562-square foot unit has 5-bedrooms, 4.5 bathrooms, 12.5-foot high ceilings, and a 41-foot great room with a fireplace and views of the Hudson River. The 49-unit condo was designed as a spectacular undulating glass structure by the Pritzker Prize-winning architects Herzog & de Meuron. Amenities include a landscaped motor court, a doorman, concierge, parking, fitness center, pool, and children’s playroom.

The No. 2 contract was PH6D at 345 West 13th Street, asking $9.5 million when it was listed at the end of July. The duplex condo has 3,599 square feet including 4 bedrooms, 4 bathrooms, and 10.5’ ceilings. Downstairs is a 28-foot living room and 3 bedrooms. Upstairs is a 4th bedroom/den that opens onto a 14’ x 33’ terrace. The owner paid $6.4 million in 2010. Monthly common charges and taxes are $11,107. The 46-unit condo loft building has a doorman.



EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 2 3 0 1 Avg.Ask:
$5,369,000
6
Condos 0 0 1 4 Avg.Ask:
$9,056,600
Avg.$/sq.ft.:
$2,523/sq.ft.
Avg.Size:
3,589 sq.ft.
5
Condop* 0 0 0 0 Avg.Ask:
0
Townhouses Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
TOTALS 2 3 1 5 11


*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 11 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 0 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
October 7-13, 2019
Total Weekly Asking Price Sales Volume: 77,501,000

Average Asking Price: 7,045,545

Median Asking Price: 5,995,000

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

Average Days on Market: 411









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