Fair Housing Notice

LUXURY MARKET REPORT 2022
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
January 31-February 6, 2022

40 Contracts Signed

Forty contracts were signed last week at $4 million and above in Manhattan, 11 more than the previous week. Condos outsold co-ops, 27-9, and 4 townhouses were in the mix.

Stat Geek Alert: Last week’s total was the highest of 2022---and the first time this year that the luxury market cracked 30 or more contracts signed at $4 million and above.

The No. 1 contract was 34A at 15 Central Park West, asking $21.95 million; it sold within days of listing. The seller paid $18.8 million in September 2008 for a condo with 3,103 square feet including 3 bedrooms and 3.5 bathrooms. The living room and master bedroom have spectacular views of Central Park.

15 Central Park West was designed by architect Robert A.M. Stern. Amenities include a 14,000-square-foot fitness center with a 75-foot pool, a private restaurant for residents only, a landscaped motor court and garage, library, business center, game room, outdoor terrace, and children’s playroom.

The No. 2 contract was the 7th floor at 1165 Madison Avenue, asking $18.75 million, raised from the original offering-plan price of $18.25 million. This full-floor unit has 6,118 square feet including 5 bedrooms and 6.5 bathrooms. It features 13-foot ceilings and a 19’ x 27’ great room. It is in a new 12-unit, 14-story condo called The Bellemont, also designed by architect Robert A.M Stern. Amenities include a concierge, fitness center, squash court, roof terrace, children’s playroom, and screening room. Marketing started in the fall of 2021, and 9 out of 12 units have sold at asking prices averaging $3,768/sq.ft.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 5 1 1 2 Avg.Ask:
$6,325,000
9
Condos 4 5 0 18 Avg.Ask:
$7,463,333
Avg.$/sq.ft.:
$2,771/sq.ft.
Avg.Size:
2,693 sq.ft.
27
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 0 1 0 3 Avg.Ask:
$10,450,000
Avg.$/sq.ft.:
$2,225/sq.ft.
Avg.Size:
4,698 sq.ft.
4
TOTALS 9 7 1 23 . 40


*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 4 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 31-February 6, 2022
Total Weekly Asking Price Sales Volume: $300,235,000

Average Asking Price: $7,505,875

Median Asking Price: $5,995,000

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

Average Days on Market: 590









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