Fair Housing Notice

LUXURY MARKET REPORT 2020
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
December 28-January 3, 2021

17 Contracts Signed

Seventeen contracts were signed last week at $4 million and above, the largest post-Christmas week total since we started keeping track in 2006.

Stat Geek Alert I: By the way, the last time New Year’s Day fell on a Friday was in 2016, when the post-Christmas week yielded only 6 signed contracts.

Stat Geek Alert II: Seven contracts were signed on townhouses, the highest total since the last week of January 2020, when 7 townhouse contracts were also signed.

The No. 1 contract was the most expensive apartment ever to sell on East End: PHA at 20 East End Avenue, asking $35 million. The new condo has 6,050 square feet including 5 bedrooms and 5.5 bathrooms. It has 12-foot ceilings and river views. There are 5 terraces that total 4,542 square feet. An upstairs roof terrace features a wood-burning fireplace and stone archway. 20 East End is an elegant new limestone condo that was designed by Robert A.M Stern and completed in 2016. It has 43 units on 17 floors. Amenities include a concierge, drive-in motor court, a fitness center, private dining room with wine storage, a game room, and a kids’ lounge

Deborah Kern of The Corcoran Group represented the sponsor, Corigin Real Estate Group. Kern said that the buyers are New Yorkers and came direct. “They really appreciated the quality of the construction and how far it went beyond anything built on the east side,” she said. “And they liked the intimacy of the building. They really appreciated everything about the building down to the air purification system and the energy efficiency.”

The No. 2 contract was a townhouse at 292 West 4th Street, asking $16.3 million, reduced from $18 million when it was listed in January 2019. The seller purchased the house for $7 million in 2012 and gut renovated. The 20-foot-wide, 4-story house has 4 bedrooms, 4.5 bathrooms, 5 fireplaces, and a gym. The house does not have an elevator but it does have a garden and rooftop solarium with 2 terraces, including one with a hot tub and an outdoor shower.

The listing broker was Serena Boardman of Sotheby’s International Realty. The buyer was represented by Cathy Franklin of The Corcoran Group. Both declined to comment.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 1 0 0 0 Avg.Ask:
$4,025,000
1
Condos 2 1 0 6 Avg.Ask:
$9,297,778
Avg.$/sq.ft.:
$3,071/sq.ft.
Avg.Size:
3,028 sq.ft.
9
Condop* 0 0 0 0 Avg.Ask:
0
Townhouses 3 0 0 4 Avg.Ask:
$10,777,143
Avg.$/sq.ft.:
$2,109/sq.ft.
Avg.Size:
5,109 sq.ft.
7
TOTALS 6 1 0 10 . 17


*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 10 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
December 28-January 3, 2021
Total Weekly Asking Price Sales Volume: $163,145,000

Average Asking Price: $9,596,765

Median Asking Price: $6,495,000

Average Discount from Original Ask to Last Asking Price: 15%

Average Days on Market: 550









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