LUXURY MARKET REPORT 2020
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
November 25-December 1, 2019

11 Contracts Signed

Eleven contracts were signed last week at $4 million and above. You might think that was a turkey of a Thanksgiving week, but you’d be wrong: That total of 11 signed contracts was only one less than last year and one more than 2015, which was a stellar year in the luxury market.

The No.1 contract was 62A at 432 Park Avenue, asking $26.995 million, reduced from $28 million when it was listed in May. The condo has 4,019 square feet including 3 bedrooms, 4.5 bathrooms, and a library. It has 12.5’ ceilings and windows that measure 10’ x 10’, affording south, east, and north views of Central Park. Monthly common charges and real estate taxes total $15,819. The owner paid $18,442,956 in June 2016 after signing a contract off of floorplans in 2012. 432 Park is 96 stories high with 106 units, a concrete-and-glass edifice designed by Rafael Vinoly that is 1,396 feet tall and 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 PHE at 40 Bleecker Street, asking $15.5 million. It was the only sponsor sale in the Manhattan luxury market last week. The condo has 3,528 square feet including 4 bedrooms and 4.5 baths, plus a terrace totaling 830 square feet. Monthly common charges and taxes total $11,842. Amenities in this new 12-story, 61-unit building include a concierge, pool, 11 parking spaces, and a landscaped courtyard.



EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 3 0 0 0 Avg.Ask:
$109,474,000
3
Condos 1 0 1 4 Avg.Ask:
$10,464,000
Avg.$/sq.ft.:
$3,434/sq.ft.
Avg.Size:
3,048 sq.ft.
6
Condop* 0 0 0 0 Avg.Ask:
0
Townhouses Avg.Ask:
$7,495,000
Avg.$/sq.ft.:
$1,595/sq.ft.
Avg.Size:
4,700 sq.ft.
2
TOTALS 6 0 1 4 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 9 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


Select a Date to compare 2020 with previous years

Source: Olshan Realty




QUICK STATS

for the week of
November 25-December 1, 2019
Total Weekly Asking Price Sales Volume: 109,474,000

Average Asking Price: 9,952,182

Median Asking Price: 8,995,000

Average Discount from Original Ask to Last Asking Price: 5%

Average Days on Market: 256









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