Fair Housing Notice

LUXURY MARKET REPORT 2021
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
August 9-15, 2021

33 Contracts Signed

Thirty-three contracts were signed last week at $4 million and above, marking the 26th week out of the last 28 in which the luxury market registered 30 or more deals.

Stat Geek Alert: Once again, condos crushed co-ops: this time 26 to 3. Condos have outsold co-ops every week since the middle of December 2020, when co-ops managed to eke out a tie.

For the second week in a row, the No. 1 contract was a penthouse at 56 Leonard Street: PH58, asking $34.5 million, reduced from $37 million when it was listed in July 2020. The seller bought the apartment from the sponsor for $26,781,102 in 2017. It has 5,489 square feet including 5 bedrooms, 5.5 bathrooms, and a library. The unit features 14-foot ceilings and 2 terraces totaling 745 square that flank a 39-foot living room. It has panoramic views of the city, Hudson River, and Statue of Liberty.

56 Leonard is a 60-story, 145-unit condo designed like a glass obelisk by Pritzker Prize-winning architects Herzog & de Meuron. It has 17,000 square feet of amenities including a 75-foot pool, indoor/outdoor theaters, landscaped sundeck, fitness center, sauna, lounge, and a children’s playroom.

The No. 2 contract was 45A at 200 Amsterdam Avenue, asking $19.3 million. The unit spans the entire 45th floor with 3,933 square feet including 3 bedrooms and 3.5 bathrooms. The living room, formal dining room, gallery, and 2 of the bedrooms open onto a 116-foot-wide terrace with dramatic views of Central Park. The buyer was from the tri-state area. 200 Amsterdam is a new condo that is close to completion and comprises 112 units on 52 floors. Closings are expected to start in the Fall. Amenities include a concierge, fitness center, a 75-foot saline pool, children’s playroom, private dining room, and resident’s lounge, plus a pet grooming room.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 2 0 0 1 Avg.Ask:
$7,131,667
3
Condos 4 5 0 17 Avg.Ask:
$8,841,923
Avg.$/sq.ft.:
$2,960/sq.ft.
Avg.Size:
2,987 sq.ft.
26
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 0 4 0 0 Avg.Ask:
$6,746,250
Avg.$/sq.ft.:
$1,082/sq.ft.
Avg.Size:
6,237 sq.ft.
4
TOTALS 6 9 0 18 . 33


*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 29 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW PAGE 2 OF 29 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 4 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
August 9-15, 2021
Total Weekly Asking Price Sales Volume: $278,270,000

Average Asking Price: $8,432,424

Median Asking Price: $6,390,000

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

Average Days on Market: 778









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