Fair Housing Notice

LUXURY MARKET REPORT 2021
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
April 19-25, 2021

56 Contracts Signed

Fifty-six contracts were signed last week at $4 million and above, up from 47 contracts in the prior week and extending an extraordinary record-breaking streak of 30 or more deals to 12 weeks in a row--- the longest such streak since we started recording the Olshan Report in 2006.

Stat Geek Alert I: In the last 3 weeks, the luxury market has shifted into high gear with 154 contracts signed totaling $1,282,700,989.

Stat Geek Alert II: Last week, condos outsold co-ops 44 to 9. Typically, condos outsell co-ops 3 to 1. This year the gap has dramatically increased--year-to-date, at $4 million and above, condos have outsold co-ops 406 to 107.

The No. 1 contract was PH82 at 30 Park Place, asking $25 million, reduced from $30 million when the sponsor, Silverstein Properties, starting marketing the building in 2014. The condo is one of the last sponsor units. It has 4,538 square feet including 3 bedrooms, 4.5 bathrooms, a large eat-in kitchen, and 4 terraces totaling 732 square feet. It has panoramic views of the city and the Hudson River. 30 Park Place is an 80-story limestone building designed by Robert A.M. Stern; it has a Four Seasons Hotel on the bottom and above it are 22 floors with 157 condos. Amenities include a fitness center, 75-foot swimming pool, children’s playroom, and a private dining room.

The No. 2 contract was 19E at 211 Central Park West, asking $19.5 million, reduced from $24 million when it was listed in November 2019. The duplex co-op has 3 bedrooms, 4 bathrooms, a formal dining room, and 2 staff rooms. A 42-foot terrace off the living room and library overlook Central Park. The upstairs master and 2nd bedroom also face Central Park. The unit, in the legendary co-op building known as The Beresford, is being sold by the estate of the late Broadway actress Phyllis Newman, who was married to Adolph Green, a playwright and lyricist who died in 2002. Amenities in the building include a doorman, elevator operators, a fitness center, and storage.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 5 2 0 2 Avg.Ask:
$7,993,333
9
Condos 11 8 1 24 Avg.Ask:
$8,187,795
Avg.$/sq.ft.:
$2,753/sq.ft.
Avg.Size:
2,973 sq.ft.
44
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 1 0 1 1 Avg.Ask:
$8,483,333
Avg.$/sq.ft.:
$1,882/sq.ft.
Avg.Size:
4,508 sq.ft.
3
TOTALS 17 10 2 27 . 56


*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 53 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW PAGE 2 OF 53 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW PAGE 3 OF 53 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 19-25, 2021
Total Weekly Asking Price Sales Volume: $457,653,000

Average Asking Price: $8,172,375

Median Asking Price: $6,525,000

Average Discount from Original Ask to Last Asking Price: 11%

Average Days on Market: 641









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