Fair Housing Notice

LUXURY MARKET REPORT 2021
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
December 6-12, 2021

33 Contracts Signed

Thirty-three contracts were signed last week in Manhattan at $4 million and above, one fewer than the previous week. Condos outsold co-ops, 23 to 5, and 5 townhouses were in the mix.

Stat Geek Alert: For the 37th time this year, the luxury market has recorded 30 signed contracts or more at $4 million and above, the highest total since we started keeping track in 2006.

The No. 1 contract was PH20 at 109 East 79th Street, asking $35 million. It has 5,721 square feet including 4 bedrooms, 4.5 bathrooms, and outdoor space totaling 3,666 square feet. A 28-foot living room with a fireplace, a formal dining room, an eat-in kitchen, and the breakfast area all open onto a balcony overlooking 79th Street. Ceiling heights are 11 feet. The unit’s private roof garden extends the length of the building and features an outdoor kitchen and fireplace. This new 20-story, 31-unit condo was designed by Steven Harris Architects. Completion is expected in 2022. Amenities include doormen, a regulation-size squash court that converts to a basketball court, a gym, golf simulator, game room, and a spa treatment center.

The No. 2 contract was 12A at 551 West 21st Street, asking $15.870 million. The condo has 4,271 square feet including 4 bedrooms and 4.5 bathrooms. The living room, dining room, eat-in kitchen and master bedroom overlook the Hudson River. The seller paid $15,139,625 in October 2016. The building was designed by Foster + Partners, home of the Pritzker Prize-winning architect Sir Norman Foster. The entrance to this 19-story, 44-unit condo features a drive-in court surrounded by a green wall and a 34-foot-tall lobby with prismatic glass. Amenities include a concierge, fitness center, and children’s playroom



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 4 1 0 0 Avg.Ask:
$5,090,000
5
Condos 4 3 1 15 Avg.Ask:
$7,699,565
Avg.$/sq.ft.:
$2,860/sq.ft.
Avg.Size:
2,692 sq.ft.
23
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 2 1 1 1 Avg.Ask:
$6,039,000
Avg.$/sq.ft.:
$1,310/sq.ft.
Avg.Size:
4,608 sq.ft.
5
TOTALS 10 5 2 16 . 33


*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 28 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW PAGE 2 OF 28 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 5 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
December 6-12, 2021
Total Weekly Asking Price Sales Volume: $227,985,000

Average Asking Price: $7,124,531

Median Asking Price: $5,722,500

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

Average Days on Market: 387









OLSHAN REALTY, INC. | Established 1980
641 Lexington Avenue, Suite 2200, New York, NY 10022 | 212-751-3300 | Privacy Policy

. . . .