Fair Housing Notice

LUXURY MARKET REPORT 2021
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
September 27-October 3, 2021

22 Contracts Signed

Twenty-two contracts were signed last week at $4 million and above, 5 fewer than the previous week. Condos outsold co-ops, 14 to 4, and 4 townhouses were in the mix.

Stat Geek Alert: The first 3 quarters yielded a record 1,329 contracts, more than twice the total for the entire year of 2020 and 42% more than all of 2019. But as we enter the 4th quarter, I am thinking of the great songwriter Cole Porter, and wondering: Maybe the Manhattan luxury market has been “too hot not to cool down.”

The No. 1 contract was 9/10B at 720 Park Avenue, asking $15.9 million, reduced from $22 million when it was listed in October 2019. This duplex co-op has 7 bedrooms, 5 bathrooms, 2 powder rooms, and 2 fireplaces. It was purchased for $12 million in 2006, and underwent a 3-year renovation starting in 2008. The building does not allow financing. Amenities include doormen, gym, and storage.

The No. 2 contract was 6G at 443 Greenwich Street, asking $12.995 million, and sold within 5 weeks of listing. It has 3,883 square feet including 4 bedrooms and 4.5 bathrooms. 443 Greenwich is a former factory, built in the 1880s, that was converted into a 53-unit condo, and retains some of the original details, like large windows and huge shutters. Amenities include a lap pool, fitness center, garage with valet parking, a landscaped courtyard, and a roof deck. The seller paid $11,261,845 in May 2017.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 2 0 0 2 Avg.Ask:
$7,735,000
4
Condos 1 8 0 5 Avg.Ask:
$7,154,286
Avg.$/sq.ft.:
$2,644/sq.ft.
Avg.Size:
2,706 sq.ft.
14
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 1 1 0 2 Avg.Ask:
$8,012,500
Avg.$/sq.ft.:
$1,808/sq.ft.
Avg.Size:
4,432 sq.ft.
4
TOTALS 4 9 0 9 . 22


*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 18 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 27-October 3, 2021
Total Weekly Asking Price Sales Volume: $163,150,000

Average Asking Price: $7,415,909

Median Asking Price: $6,622,500

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

Average Days on Market: 538









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