Fair Housing Notice

LUXURY MARKET REPORT 2022
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
February 14-20, 2022

38 Contracts Signed

Thirty-eight contracts were signed last week at $4 million and above in Manhattan, 8 more than the previous week. It was an impressive total considering the troublesome performance of the stock market thanks to soaring inflation, rising interest rates, and the Russia-Ukraine crisis. Condos outsold co-ops, 29-7, and 2 townhouses were in the mix.

Stat Geek Alert: Twenty of the properties were sold by sponsors, the highest activity in new constructions since the middle of December.

The No. 1 contract was PH78 at 111 West 57th Street, asking $53.8 million. This duplex condo has 6,512 square feet including 4 bedrooms and 4.5 bathrooms. A 49-foot great room with 14-foot ceilings overlooks Central Park. Upstairs, the master bedroom suite and second bedroom overlook Central Park. The 60-unit, 82-story building rises 1,428 feet on the former site of the Steinway & Sons piano store and is near completion. Amenities include a concierge, a fitness center, 82-foot pool, lounge, terrace, and a private dining room, plus a covered driveway entrance.

The No. 2 contract was 14A at 155 West 11th Street, asking $22 million. The seller purchased the unit from the sponsor and paid $18,940,564 in June 2017. It has 3,951-square feet including 4 bedrooms and 3.5 bathrooms, and features a 39-foot great room with floor-to-ceiling windows and open city views facing south. A balcony is off the breakfast room. The apartment is in the Greenwich Lane, a 5-building complex comprised of 193 condos and 5 townhouses. Amenities include a concierge, doorman, parking, fitness center, a 25-meter swimming pool, golf simulator, garden, residents’ lounge, and children’s playroom.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 3 2 1 1 Avg.Ask:
$5,016,429
7
Condos 7 7 2 13 Avg.Ask:
$9,830,966
Avg.$/sq.ft.:
$3,303/sq.ft.
Avg.Size:
2,976 sq.ft.
29
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 0 0 0 2 Avg.Ask:
$7,497,500
Avg.$/sq.ft.:
$1,652/sq.ft.
Avg.Size:
4,538 sq.ft.
2
TOTALS 10 9 3 16 . 38


*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 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
February 14-20, 2022
Total Weekly Asking Price Sales Volume: $335,233,000

Average Asking Price: $8,821,921

Median Asking Price: $5,837,500

Average Discount from Original Ask to Last Asking Price: 4%

Average Days on Market: 676









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

. . . .