Fair Housing Notice

LUXURY MARKET REPORT 2021
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
August 16-22, 2021

24 Contracts Signed

Twenty-four contracts were signed last week at $4 million and above, 9 fewer than the previous week, as the luxury market slipped into a slower summer rhythm.

Stat Geek Alert:Last week marked only the 3rd time since February 1 that the number of contracts had fallen below 30---each time during the summer. Overall, 2021 has been on pace as one of the strongest years in the luxury market, with over $10 billion in contracts signed at $4 million and above in Manhattan.

The No. 1 contract was 58B at 53 West 53rd Street, asking $14.5 million, reduced from $15.575 million when it was listed in 2016 off of floorplans. Now finished, the condo has 3,251 square feet including 3 bedrooms and 3.5 bathrooms. The unit has south and west city views, 11-foot ceilings, a 40-foot living room, and a 32-foot master bedroom.

53 West 53rd Street was designed by Pritzker Prize-winning architect Jean Nouvel with interiors by Thierry Despont. Amenities include a concierge, fitness center, 65-foot lap pool, golf simulator, wine room, library, theater, storage, and a children’s playroom.

The No. 2 contract was 76B at 15 Hudson Yards, asking $12,030,000. The condo has 2,986 square feet including 4 bedrooms and 4.5 bathrooms. The corner unit features spectacular south and west views of the Hudson River and city. The building has 285 units on 88 floors with over 40,000 square feet of amenities including a concierge, fitness center, 75-foot pool, a children’s playroom, a ballroom and catering kitchen, and a residents’ lounge.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 2 1 0 2 Avg.Ask:
$6,453,000
5
Condos 4 3 2 9 Avg.Ask:
$7,064,833
Avg.$/sq.ft.:
$3,000/sq.ft.
Avg.Size:
2,373 sq.ft.
18
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 0 0 0 1 Avg.Ask:
$8,600,000
Avg.$/sq.ft.:
$2,500/sq.ft.
Avg.Size:
3,440 sq.ft.
1
TOTALS 6 4 2 12 . 24


*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 23 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 1 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 16-22, 2021
Total Weekly Asking Price Sales Volume: $168,032,000

Average Asking Price: $7,001,333

Median Asking Price: $6,657,500

Average Discount from Original Ask to Last Asking Price: 5%

Average Days on Market: 656









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