Fair Housing Notice

LUXURY MARKET REPORT 2020
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
January 27-February 2, 2020

26 Contracts Signed

Twenty-six contracts were signed last week at $4 million and above, tying the total for the same week in 2018. For some more good news: It was the largest total since the third week in November 2019, when 30 contracts were signed.

Stat Geek Alert: Last week’s volume of $231,710,000 was the highest volume since the last week in June.

State Geek Alert II: Seven contracts were signed on townhouses last week, the largest number of townhouse deals since the middle of June 2016, when 8 contracts were signed.

The No.1 contract was PH11B at 90 Morton Street, asking $31 million, raised from $26.5 million when it was first offered off of floorplans in April 2018. Now finished, this duplex penthouse has 4,685 square feet including 5 bedrooms and 4.5 bathrooms. Two terraces total 1,105 square feet. The bottom floor has a 43-foot combination living and dining room that open onto a 624-square-foot terrace. Upstairs are 4 bedrooms and a 481-square-foot terrace. 90 Morton is a former printing plant converted into 12-story, 28-unit condo that started closings in June 2019. Amenities include a concierge, a covered driveway, a fitness center, a 64-foot pool, residents’ lounge, and children’s playroom. A rooftop terrace has an outdoor kitchen.

The No. 2 contract was 9E at 101 Central Park West, asking $14.75 million; it was listed only 3 weeks ago. The seller purchased the unit for $13,075,000 in February 2012, and then renovated. It has 3 bedrooms, a library, and 3.5 bathrooms. A living room with a fireplace, library, and 2 of the 3 bedrooms have a 60-foot expanse overlooking Central Park. There is also a terrace off the eat-in kitchen. 101 Central Park West is a co-op offering amenities that include a doorman, fitness center, storage bins, and a bike room.



EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 4 3 0 1 Avg.Ask:
$7,691,875
8
Condos 0 3 1 7 Avg.Ask:
$9,049,545
Avg.$/sq.ft.:
$2,863/sq.ft.
Avg.Size:
3,161 sq.ft.
11
Condop* 0 0 0 0 Avg.Ask:
0
Townhouses Avg.Ask:
$10,900,000
Avg.$/sq.ft.:
$1,980/sq.ft.
Avg.Size:
5,097 sq.ft.
7
TOTALS 5 7 1 13 26


*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 19 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 7 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
January 27-February 2, 2020
Total Weekly Asking Price Sales Volume: 231,710,000

Average Asking Price: 8,911,923

Median Asking Price: 8,100,000

Average Discount from Original Ask to Last Asking Price: 8%

Average Days on Market: 648









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