Fair Housing Notice

LUXURY MARKET REPORT 2022
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
January 3-9, 2022

21 Contracts Signed

Twenty-one contracts were signed last week at $4 million and above in Manhattan, one fewer than the previous week. It was a decent total when you factor in the rapid rise of Omicron cases and its impact on potential buyers’ willingness to shop.

Condos outsold co-ops, 13-6, and 2 townhouses were in the mix.

The No. 1 contract was 5C at 71 Laight Street, asking $13.1 million. The condo has 3,708 square feet including 5 bedrooms, 5.5 bathrooms, and an eat-in kitchen. It features 11- to 12-foot ceilings and large windows. The apartment is in the 32-unit Sterling Mason condo with amenities that include a doorman, concierge, fitness center, playroom, bike room, and storage. The owner purchased the unit for $9,950,000 from the sponsor in December 2015.

The No. 2 contract was 46 East at 56 Leonard Street, asking $13 million. The condo has 3,371 square feet including 4 bedrooms and 4.5 bathrooms. It features 12-foot ceilings and balconies off the living room and master bedroom with north, south and west city views. 56 Leonard is a 60-story, 145-unit condo designed like a glass obelisk by Pritzker Prize-winning architects Herzog & de Meuron. It has 17,000 square feet of amenities including a 75-foot pool, indoor/outdoor theaters, landscaped sundeck, fitness center, sauna, lounge, and a children’s playroom. The owner bought the unit off of floorplans and closed for $11,232,758 in March 2017.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 3 2 0 1 Avg.Ask:
$6,799,167
6
Condos 2 3 0 8 Avg.Ask:
$7,447,692
Avg.$/sq.ft.:
$3,192/sq.ft.
Avg.Size:
2,333 sq.ft.
13
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 0 1 0 1 Avg.Ask:
$4,962,500
Avg.$/sq.ft.:
$1,005/sq.ft.
Avg.Size:
4,938 sq.ft.
2
TOTALS 5 6 0 10 . 21


*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 19 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 2 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
January 3-9, 2022
Total Weekly Asking Price Sales Volume: $147,040,000

Average Asking Price: $7,001,905

Median Asking Price: $5,350,000

Average Discount from Original Ask to Last Asking Price: 1%

Average Days on Market: 572









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

. . . .