Fair Housing Notice

LUXURY MARKET REPORT 2021
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
August 30-September 5, 2021

23 Contracts Signed

Twenty-three contracts were signed last week in Manhattan at $4 million and above, 4 fewer than the previous week. Condos outsold co-ops, 16 to 3, with 4 townhouses in the mix. Ten of the 16 condos were sold by developers.

Stat Geek Alert: The 23 signed contracts represented the strongest pre-Labor Day week total since we started keeping track in 2006, surpassing 2014 when 22 contracts were recorded.

The No. 1 contract was PH1 at 293 Lafayette Street, asking $42.5 million. This Puck condominium penthouse has been on and off the market since 2015, starting at $66 million. The Wall Street Journal reported last week that it was sold to Joshua Kushner (Jared’s brother) and supermodel Karlie Kloss, who bought the unit from a family-owned Kushner entity that developed the building. Kushner and Kloss also own the other penthouse in the building.

PH1 is a duplex with 7,241 square feet including 4 bedrooms, 6.5 bathrooms, a library, gym, media room, and wine cellar. There are 3 terraces totaling 5,158 square feet and featuring a yoga lawn, putting green, hot tub, and wet bar. The building has 6 units and a 24-hour doorman.

The No. 2 contract was a multi-unit townhouse at 95 Bedford Street, asking $15.95 million. The 4-story, 25-foot-wide brick building has 9,232 square feet including a garage. It was built in 1894 as stables and converted into apartments in 1927. The house takes up the full depth of a 98-foot lot, so there is no garden. It needs to be renovated.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 1 0 1 1 Avg.Ask:
$6,306,667
3
Condos 1 4 1 10 Avg.Ask:
$7,861,875
Avg.$/sq.ft.:
$3,135/sq.ft.
Avg.Size:
2,507 sq.ft.
16
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 1 1 0 2 Avg.Ask:
$8,922,500
Avg.$/sq.ft.:
$1,812/sq.ft.
Avg.Size:
4,923 sq.ft.
4
TOTALS 3 5 2 13 . 23


*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 19 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 30-September 5, 2021
Total Weekly Asking Price Sales Volume: $180,750,000

Average Asking Price: $7,858,696

Median Asking Price: $5,950,000

Average Discount from Original Ask to Last Asking Price: 14%

Average Days on Market: 578









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