Fair Housing Notice

LUXURY MARKET REPORT 2021
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
June 14-20, 2021

41 Contracts Signed

Forty-one contracts were signed last week at $4 million and above in Manhattan, five more than the previous week. Condos outsold co-ops, 29 to 7, with 5 townhouses in the mix.

Stat Geek Alert: Thirty or more contracts have been signed at $4 million and above for 20 straight weeks. The strength of the luxury residential market is even more remarkable when you consider that we are heading into the malaise of summer, a time when the market usually tapers off.

The No. 1 contract was 54/55A at 220 Central Park South, asking $49.5 million. The seller, car dealership owner Michael Cantanucci, bought the condo off of floorplans in March 2015 and closed for $38,184,375 in September 2019. The duplex has 4,814 square feet including 4 bedrooms and 5.5 bathrooms. A 35-foot living room, master bedroom, and 2nd bedroom 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.

The No. 2 contract was PHA at 378 West End Avenue, asking $26 million. The triplex condo has 6,169 square feet, and includes 5 bedrooms, 5 bathrooms, and 2 powder rooms. Outdoor space totals 1,349 square feet including small terraces off the living room, library, and kitchen, plus a 891-square-foot rooftop terrace. The 57-unit building is being designed by CookFox and developed by Alchemy Properties, with 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.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 2 3 1 1 Avg.Ask:
$7,191,857
7
Condos 4 7 3 15 Avg.Ask:
$9,722,586
Avg.$/sq.ft.:
$3,169/sq.ft.
Avg.Size:
3,068 sq.ft.
29
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 2 1 0 2 Avg.Ask:
$9,185,000
Avg.$/sq.ft.:
$1,6201/sq.ft.
Avg.Size:
5,668 sq.ft.
5
TOTALS 8 11 4 18 . 41


*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 36 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW PAGE 2 OF 36 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 5 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
June 14-20, 2021
Total Weekly Asking Price Sales Volume: $378,223,000

Average Asking Price: $9,224,951

Median Asking Price: $6,800,000

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

Average Days on Market: 632









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