Fair Housing Notice

LUXURY MARKET REPORT 2021
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
July 5-11, 2021

28 Contracts Signed

The streak is over!

For 22 straight weeks, 30 or more contracts were signed at $4 million and above in Manhattan, starting on February 1 and ending on July 4th. It was a remarkable run, not seen since we started this report in 2006, and shattered the previous record of 6 weeks that was set in the Spring of 2015.

Last week, 28 contracts were signed at $4 million and above, 5 fewer than the previous, as condos outsold co-ops, 24 to 2, with 2 townhouses in the mix.

The No. 1 contract was TH at 109 East 79th Street, asking $17.5 million. It is a ground-floor duplex with 4,705 square feet including 5 bedrooms and 5.5 bathrooms, plus a garden that totals 1,096 square feet. The living room and dining room have 13-foot ceilings. The condo building is under construction and is designed by Steven Harris Architects; it has 31 units on 20 floors. Completion is expected next year. Amenities include doormen, a regulation-size squash court that converts to a basketball court, a gym, golf simulator, game room, and a spa treatment center. The buyer was from the tri-state area.

The No. 2 contract was PHB at 30 Riverside Boulevard, asking $17.25 million. The 4,694-square-foot unit includes 4 bedrooms and 5.5 bathrooms. The living room and master suite open onto a 1,763-square-foot terrace. It has North, South, and East views of the city and Hudson River. PHB is one of the most expensive units to go to contract in 2 Waterline Square, one of three new buildings that comprise the Waterline Square complex; it is being developed on a 5-acre parcel on Riverside between 59th and 61st Street. The condo has 160 units on 38 floors, and was designed by Kohn Pederson Fox. Owners have access to a robust amenity package, including a large fitness center with a gym, an indoor tennis court, a 25-meter lap pool with an adjacent children’s pool and spa pool, full court basketball, squash court, indoor soccer field, rock climbing wall, golf simulator, children’s room, game room, music and recording studio, art studio, screening room, dog playroom, and storage.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 1 0 1 0 Avg.Ask:
$5,747,500
2
Condos 4 4 2 14 Avg.Ask:
$8,633,333
Avg.$/sq.ft.:
$2,959/sq.ft.
Avg.Size:
2,918 sq.ft.
24
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 0 1 0 1 Avg.Ask:
$14,747,500
Avg.$/sq.ft.:
$2,655/sq.ft.
Avg.Size:
5,555 sq.ft.
2
TOTALS 5 5 3 15 . 28


*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 26 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW PAGE 2 OF 26 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 2 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
July 5-11, 2021
Total Weekly Asking Price Sales Volume: $248,185,000

Average Asking Price: $8,863,750

Median Asking Price: $6,400,000

Average Discount from Original Ask to Last Asking Price: 9%

Average Days on Market: 676









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