Fair Housing Notice

LUXURY MARKET REPORT 2020
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
December 23-29, 2019

11 Contracts Signed

Eleven contracts were signed last week at $4 million and above. I am tempted to say it was a typical post-Christmas week total. But when you consider the annus horribilis in Manhattan residential real estate, last week’s total was an encouraging continuation of the recent uptick in the luxury market.

The No.1 contract was 9A at 155 West 11th Street, asking $17.5 million, reduced from $18.25 million when it was listed in February. The seller purchased the unit from the sponsor and paid $16,852,123 in September 2016. It has 3,951-square feet including 4 bedrooms and 4.5 bathrooms, and features a 39-foot great room with open city views facing south. The apartment is in the Greenwich Lane, a 5-building complex comprised of 193 condos and 5 townhouses; amenities include a concierge, doorman, parking, fitness center, a 25-meter swimming pool, golf simulator, garden, residents’ lounge, and children’s playroom.

The No. 2 contract was 21C at 145-146 Central Park West, asking $12.5 million, reduced from $17.5 million when it was listed in March 2018. The seller paid $13.5 million for the co-op in June of 2012. It has 3 bedrooms, 3 bathrooms, and a library. The 20-foot corner living room, library, and master bedroom face Central Park. It is in the tower of the San Remo, a co-op known for its celebrity residents, including Steven Spielberg and Steve Martin.

Happy New Year!



EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 1 2 0 2 Avg.Ask:
$7,250,000
5
Condos 1 0 1 4 Avg.Ask:
$7,304,167
Avg.$/sq.ft.:
$2,623/sq.ft.
Avg.Size:
2,785 sq.ft.
6
Condop* 0 0 0 0 Avg.Ask:
0
Townhouses Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
TOTALS 2 2 1 6 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



Source: Olshan Realty




QUICK STATS

for the week of
December 23-29, 2019
Total Weekly Asking Price Sales Volume: 80,075,000

Average Asking Price: 7,279,545

Median Asking Price: 5,500,000

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

Average Days on Market: 579









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