Fair Housing Notice

LUXURY MARKET REPORT 2021
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
October 25-31, 2021

47 Contracts Signed

Forty-seven contracts were signed last week at $4 million and above in Manhattan, 3 fewer than the previous week. Condos outsold co-ops, 31 to 10, and 6 townhouses were in the mix.

Stat Geek Alert: The luxury market has been on a tear in October, racking up 184 contracts in the last 4 weeks at $4 million and above totaling $1,544,200,479 in sales. Year-to-date, last week marked the 14th time of 40 or more contracts signed.

The No. 1 contract was 18A at 212 West 18th Street, asking $24.995 million. It was an off-market sale of a duplex condo at Walker Tower; it had been rented (the last asking price on the rent was $55,000 per month). The brokers won’t comment whether the renter bought the unit, which has 4,871 square feet including 4 bedrooms, 4.5 bathrooms, and 2 terraces. The owner, Daniel Stephen Hafner, the CEO of Kayak, paid $24 million in August 2016. Amenities include a doorman, concierge, a library lounge, children’s playroom, and bike storage, plus a fitness center with a yoga room and sauna. An extra plus: a landscaped common roof deck with covered cabanas.

The No. 2 contract was 12C at 145 Central Park West, asking $22 million; it sold within a month of listing. This 10-room unit has 2 bedrooms and 4.5 bathrooms; a 30-foot living room, library, and formal dining room face Central Park. It is in the famed San Remo co-op, known for its numerous celebrity owners and art deco architecture. Amenities include a doorman, fitness room, and storage.

Money can’t buy you love but it can buy you one of Paul McCartney’s many residences. Last week, he sold his penthouse co-op at 1045 Fifth Avenue, asking $10.5 million. McCartney and his wife Nancy bought the apartment for $15.5 million in 2015. The triplex unit overlooks Central Park, but is now in white box condition and needs to be renovated.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 3 4 2 1 Avg.Ask:
$8,314,000
10
Condos 7 6 1 17 Avg.Ask:
$8,126,258
Avg.$/sq.ft.:
$2,999/sq.ft.
Avg.Size:
$2,710 sq.ft.
31
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 0 3 1 2 Avg.Ask:
$7,683,333
Avg.$/sq.ft.:
$1,562/sq.ft.
Avg.Size:
4,918
6
TOTALS 10 13 4 20 . 47


*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 41 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW PAGE 2 OF 41 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 6 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
October 25-31, 2021
Total Weekly Asking Price Sales Volume: $381,454,000

Average Asking Price: $8,116,043

Median Asking Price: $5,950,000

Average Discount from Original Ask to Last Asking Price: 8%

Average Days on Market: 452









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