Fair Housing Notice

LUXURY MARKET REPORT 2022
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
January 24-30, 2022

29 Contracts Signed

Twenty-nine contracts were signed last week at $4 million and above in Manhattan, two more than the previous week. Condos outsold co-ops, 23-6.

Stat Geek Alert: In contrast to the past month’s lousy stock market performance, Manhattan’s luxury real estate market recorded a total of 102 signed contracts at $4 million and above, the strongest January since we started keeping track in 2006.

The No. 1 contract was PH51/52W at 151 East 58th Street, asking $36 million. The sellers bought the apartment for $30.5 million in June 2021 from N.Y. Mets owner and hedge-fund titan Steven A. Cohen, who had the unit listed over an 8-year-period starting at $115 million and cycling through 4 brokerage firms.

This duplex condo has 9,000 square feet including 5 bedrooms and 6.5 bathrooms with extraordinary views of Central Park, the East River, and the Hudson River. Although it is a penthouse, it does not have a terrace. It does feature a 24-foot-high ceiling in the living room, a 2000-square-foot master suite, and an enormous eat-in kitchen. The unit was designed by the late, great architect Charles Gwathmey.

The No. 2 contract was PH at 15 East 69th Street, asking $32 million, reduced from $45 million when it was listed in May 2019. The duplex condo penthouse is being sold by the estate of socialite and Broadway producer Terry Allen Kramer. It has 6,241 square feet including 4 bedrooms, 5 bathrooms, 2 powder rooms, and over 2000 square feet of terraces. It features a greenhouse/solarium and a dramatic entrance gallery, and both the 27’ x 26’ living room and 26-foot master bedroom have fireplaces. The sale included a double-sized storage bin and a wine cellar. The penthouse is in the Westbury condo, formerly a hotel, with amenities that include a concierge, doorman, and a fitness center.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 2 2 0 2 Avg.Ask:
$9,206,667
6
Condos 3 4 2 14 Avg.Ask:
$10,775,261
Avg.$/sq.ft.:
$3,262/sq.ft.
Avg.Size:
3,303 sq.ft.
23
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
TOTALS 5 6 2 16 . 29


*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 29 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW PAGE 2 OF 29 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 0 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 24-30, 2022
Total Weekly Asking Price Sales Volume: $303,071,000

Average Asking Price: $10,450,724

Median Asking Price: $7,995,000

Average Discount from Original Ask to Last Asking Price: 7%

Average Days on Market: 644









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