Fair Housing Notice

LUXURY MARKET REPORT 2021
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
November 22-28, 2021

37 Contracts Signed

Thirty-seven contracts were signed last week at $4 million and above in Manhattan. That number is 30 contracts below the previous week’s record-breaking total of 67. But consider this: The Thanksgiving holiday split last week in half. Bottom line, it ended up being the strongest Thanksgiving holiday week since we launched this report in 2006. Condos outsold co-ops, 33 to 3, and 1 townhouse was in the mix.

Stat Geek Alert: The 10-year Thanksgiving week average is 12 signed contracts.

The No. 1 contract was TH11 at 17 Jane Street, asking $31.9 million. The buyer also purchased a unit one floor above, a 3-bedroom condo with 2,375 square feet that was asking $9.655 million. TH11 is a duplex with a cellar that has 6,378 square feet including 5 bedrooms, 4 bathrooms, and 2 powder rooms. A ground-floor entertaining space opens onto a 1,773-square-foot garden. The building was designed by architect Sir David Chipperfield, and features a lobby with a 10-foot bronze sculpture by Jeff Koons. Amenities include a 24-hour doorman, fitness center and sauna, storage; two private parking spots were included in these sales. This 7-unit condo is now sold out, and closed sales averaged $4,010/sq.ft.

The No. 2 contract was 5A at 960 Fifth Avenue, asking $28 million. It was listed in April. The prewar 11-room co-op has 4 bedrooms, a library, 5.5 bathrooms, 4 fireplaces, and an eat-in kitchen. It comes with 2 outside adjacent staff rooms that are located on the 4th floor of the building. A 39-foot living room and a 28-foot formal dining room face Central Park. The apartment needs to be totally renovated. Amenities include a doorman and a fitness center surrounded by a terrace. Mortgage financing is not allowed. The monthly maintenance for the apartment and staff rooms total $19,026, and is billed quarterly.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 2 1 0 0 Avg.Ask:
$13,031,667
3
Condos 8 5 0 20 Avg.Ask:
$8,179,667
Avg.$/sq.ft.:
$3,079/sq.ft.
Avg.Size:
2,656 sq.ft.
33
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 0 0 0 1 Avg.Ask:
$5,450,000
Avg.$/sq.ft.:
$1,854/sq.ft.
Avg.Size:
2,940 sq.ft.
1
TOTALS 10 6 0 21 . 37


*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 36 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW PAGE 2 OF 36 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
November 22-28, 2021
Total Weekly Asking Price Sales Volume: $315,474,000

Average Asking Price: $8,499,297

Median Asking Price: $5,950,000

Average Discount from Original Ask to Last Asking Price: 2%

Average Days on Market: 477









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