Fair Housing Notice

LUXURY MARKET REPORT 2021
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
September 20-26, 2021

27 Contracts Signed

Twenty-seven contracts were signed last week at $4 million and above, 11 fewer than the previous week. Condos outsold co-ops, 20-3, and 4 townhouses were in the mix.

Stat Geek Alert: Most years, 27 weekly contracts would be deemed a decent number. But 2021 has been an extraordinary year, and some might view last week’s total as a disappointment. Well, consider this: Those 27 signed contracts contributed to shattering the record for highest dollar volume. Year-to-date, a total volume of $11,384,322,930 was reached on signed contracts at $4 million and above, surpassing the 2014 record of $11,256,284,299. And there’s still one more quarter to go!

The No. 1 contract was unit 55 at 111 West 57th Street, asking $27 million. The condo has 4,183 square feet including 3 bedrooms and 3.5 bathrooms, and has spectacular views of Central Park. The 46-unit, 82-story building rises 1,428 feet on the former site of the Steinway & Sons piano store. Amenities include a concierge, a fitness center, 82-foot pool, lounge, terrace, and a private dining room, plus a covered driveway entrance.

The No. 2 contract was the penthouse at 408 Greenwich Street, asking $17.75 million, reduced from $19 million when it was listed in April. The duplex condo has 4,222 square feet including 4 bedrooms and 3.5 bathrooms. It features a 40-foot great room, 36 arched windows, and 10-foot ceilings. Upstairs is a media room surrounded by a 1,500-square foot terrace that is planted with boxwoods and hornbeam trees. The building has a virtual doorman. The owner paid $10,589,800 in May 2008.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 3 0 0 0 Avg.Ask:
$4,763,333
3
Condos 4 3 1 12 Avg.Ask:
$8,724,150
Avg.$/sq.ft.:
$3,115/sq.ft.
Avg.Size:
2,801 sq.ft.
20
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 1 0 1 2 Avg.Ask:
$8,142,500
Avg.$/sq.ft.:
$1,806/sq.ft.
Avg.Size:
4,510 sq.ft.
4
TOTALS 8 3 2 14 . 27


*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 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
September 20-26, 2021
Total Weekly Asking Price Sales Volume: $221,343,000

Average Asking Price: $8,197,889

Median Asking Price: $6,000,000

Average Discount from Original Ask to Last Asking Price: 6%

Average Days on Market: 680









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