Fair Housing Notice

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

42 Contracts Signed

Forty-two contracts were signed last week at $4 million and above in Manhattan, a total that represents the best Christmas week since we launched the report in 2006. Condos outsold co-ops, 28-8, and 6 townhouses were in the mix.

Stat Geek Alert: The last time Christmas landed on a Saturday was 2010, when only 12 contracts were signed. By the way, the previous record Christmas week was in 2016, when 17 contracts were signed.

The No. 1 contract was a townhouse at 248 Central Park West, asking $30 million. This 6-story, 20-foot-wide, Queen Anne-style house has 9,151 square feet including 6 bedrooms, 7 bathrooms, and 2 powder rooms. The house has a 60-foot lap pool in the basement, which also contains a gym. It was purchased for $16.25 million in June 2019 and then underwent a high-end renovation.

The No. 2 contract was 38/39 at 515 Park Avenue, asking $27.95 million. This duplex condo has 4,916 square feet including 4 bedrooms and 4.5 bathrooms. The unit has Central Park and city views. Downstairs is a 30-foot living room with a gas fireplace that opens onto a 34-foot formal dining room, and also includes a library and large eat-in kitchen. A floating metal-and-glass staircase leads to the upstairs bedrooms. The unit was sold with 2 guest apartments on the 3rd floor of the building—3A (with 2 bedrooms) and 3B (a studio). The seller paid $18.75 million in 2005 for the duplex plus the two guest apartments. Amenities include a concierge, fitness center, private dining room/conference room, and storage facilities.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 3 0 4 1 Avg.Ask:
$5,598,750
8
Condos 8 2 2 16 Avg.Ask:
$8,689,179
Avg.$/sq.ft.:
$2,934/sq.ft.
Avg.Size:
2,961 sq.ft.
28
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 0 1 1 4 Avg.Ask:
$13,407,500
Avg.$/sq.ft.:
$2,430/sq.ft.
Avg.Size:
5,518 sq.ft.
6
TOTALS 11 3 7 21 . 42


*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 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
December 20-26, 2021
Total Weekly Asking Price Sales Volume: $368,532,000

Average Asking Price: $8,774,571

Median Asking Price: $6,447,541

Average Discount from Original Ask to Last Asking Price: 3%

Average Days on Market: 503









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