Fair Housing Notice

LUXURY MARKET REPORT 2021
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
April 12-18, 2021

47 Contracts Signed

Forty-seven contracts were signed last week, another dazzling performance in the luxury market, which extends the record-breaking streak of 30 or more deals to 11 weeks in a row—the longest such streak since we started recording the Olshan Report in 2006.

Stat Geek Alert: Twenty-two out of 36 condo contracts were inked by developers. It was the biggest week of sponsor sales since the middle of February 2018.

The No. 1 contract is in a new condo that recently started marketing: 16A/16B at 378 West End Avenue, asking $25,950,000. It spans the entire floor with 6,901 square feet and includes 5 bedrooms, 5 bathrooms, and 2 powder rooms. The unit is surrounded by terraces and balconies that total 2,349 square feet. The building is being designed by CookFox and developed by Alchemy Properties, which is combining the apartments for the buyers. This 57-unit building features over 11,000 square feet of amenities including a doorman, fitness center, 75-foot saline lap pool, regulation squash court, half-court basketball court, children’s playroom, music room, pet-grooming facility, storage, and garage.

The No. 2 contract was 36B at 220 Central Park South, asking $24.9 million, reduced from $26.9 million when it was listed in September. The seller bought the condo off of floorplans in April 2015 and closed for $21,892,376 in September 2019. The apartment has 3,043 square feet including 3 bedrooms and 3.5 bathrooms. A 35-foot living room, master bedroom, and kitchen face Central Park. 220 Central Park South is an ultra-luxury building designed by Robert A.M.Stern. The condo has over 30,000 square feet of amenities including a doorman, concierge, motor court, private dining room, fitness center, 82-foot saline pool, squash court, basketball court, golf simulator, children’s playroom, and a communal terrace.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 1 2 2 3 Avg.Ask:
$5,904,250
8
Condos 7 8 2 19 Avg.Ask:
$8,277,971
Avg.$/sq.ft.:
$3,088/sq.ft.
Avg.Size:
2,681 sq.ft.
36
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 2 0 0 1 Avg.Ask:
$11,166,464
Avg.$/sq.ft.:
$2,469/sq.ft.
Avg.Size:
4,523 sq.ft.
3
TOTALS 10 10 4 23 . 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
April 12-18, 2021
Total Weekly Asking Price Sales Volume: $370,218,000

Average Asking Price: $8,048,217

Median Asking Price: $6,250,000

Average Discount from Original Ask to Last Asking Price: 7%

Average Days on Market: 565









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