Fair Housing Notice

LUXURY MARKET REPORT 2021
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
March 22-28, 2021

47 Contracts Signed

Forty-seven contracts were signed last week at $4 million and above, extending a remarkable luxury market streak of 30 or more deals for 8 weeks in a row, a streak not seen since we started keeping track in 2006.

The No. 1 contract was Apartment 11W at 998 Fifth Avenue, asking $24 million, reduced from $29.5 million when it was listed in November 2018. The co-op has 4 bedrooms and 5.5 bathrooms. A 38-foot living room, formal dining room, and a 33-foot master bedroom—all with fireplaces--overlook Central Park and the Metropolitan Museum. The building has a doorman and fitness center but does not allow financing. Monthly maintenance for the unit is $22,125.

The No. 2 contract was 66B at 157 West 57th Street, asking $20.9 million, reduced from $28.5 million; it was sold by the sponsor, Extell, who started marketing the building in 2013. The condo has 4,193 square feet including 3 bedrooms and 3.5 bathrooms. A 42-foot living room, master bedroom, and gallery face Central Park. The building was designed by Pritzker Prize-winning architect Christian de Portzamparc, with interiors by Thomas Juul-Hansen. The 90-story, 90-unit condo was built above the 5-star Park Hyatt Hotel and has a separate entrance for its 210 rooms. Amenities include use of hotel services, a fitness center, pool, private dining, a library lounge, performance space, and a garage.

A Shoutout---To my husband, Peter Bonventre, who edits this report, and has written a marvelous New York-centric novel called Where Have You Gone Without Me? which publishes on Tuesday, March 30.

https://www.amazon.com/Where-Have-You-Gone-Without/dp/1684426200



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 5 2 0 5 Avg.Ask:
$7,837,042
12
Condos 7 2 4 19 Avg.Ask:
$7,940,484
Avg.$/sq.ft.:
$2,741/sqft.
Avg.Size:
2,897 sq.ft.
32
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 0 1 1 1 Avg.Ask:
$5,215,000
Avg.$/sq.ft.:
$1,461/sq.ft.
Avg.Size:
3,570 sq.ft.
3
TOTALS 12 5 5 25 . 47


*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 44 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW PAGE 2 OF 44 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 3 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
March 22-28, 2021
Total Weekly Asking Price Sales Volume: $355,844,500

Average Asking Price: $7,735,750

Median Asking Price: $5,945,000

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

Average Days on Market: 598









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