Fair Housing Notice

LUXURY MARKET REPORT 2022
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
February 28-March 6, 2022

41 Contracts Signed

Forty-one contracts were signed last week at $4 million and above, 7 more than the previous week--and the largest weekly total of the year. Condos outsold co-ops, 32-7, with 1 condop and 1 townhouse in the mix.

The No. 1 contract was PHC at 200 East 83rd Street, asking $32.5 million, raised from $30 million when the building started marketing last May. This duplex condo has 6,592 square feet including 6 bedrooms and 6.5 bathrooms, plus 4 terraces totaling 1,864 square feet. A 37-foot great room opens onto a terrace facing Central Park and a den off the kitchen opens onto a 22’ x 27’ terrace. Upstairs bedrooms have terraces off a master suite and 2nd bedroom. Amenities in the new 85-unit, 38-story building designed by Robert A.M. Stern include a concierge, fitness center, 70-foot swimming pool, yoga and massage rooms, steam bath, movie theater, game room, children’s playroom, communal terrace, and lounge for residents. Over 90% of the 85 units have sold in this 38-story condo at prices averaging around $2,900/sq.ft.

The No. 2 contract was 47A at 157 West 57th Street, asking $14.4 million, reduced from $17 million from when it was listed by the sponsor in 2013. The condo has 3,228 square feet with 3 bedrooms and 3.5 bathrooms. The living room and master bedroom have views of Central Park. The building was designed by Pritzker Prize-winning architect Christian de Portzamparc, with interiors by Thomas Juul-Hansen. The 90-story, 90-unit condo was built above the 5-star Park Hyatt Hotel, and has a separate entrance for its 210 rooms. Amenities include use of hotel services, a fitness center, pool, private dining, a library lounge, performance space, and a garage.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 2 3 0 2 Avg.Ask:
$7,245,500
7
Condos 6 7 4 15 Avg.Ask:
$7,245,000
Avg.$/sq.ft.:
$2,778/sq.ft.
Avg.Size:
2,608 sq.ft.
32
Condop* 0 1 0 0 Avg.Ask:
$4,150,000
Avg.$/sq.ft.:
$1,844/sq.ft.
Avg.Size:
2,250 sq.ft.
1
Townhouses 0 0 0 1 Avg.Ask:
$4,550,000
Avg.$/sq.ft.:
$1,456/sq.ft.
Avg.Size:
3,125 sq.ft.
1
TOTALS 8 11 4 18 . 41


*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 40 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW PAGE 2 OF 40 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 1 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 28-March 6, 2022
Total Weekly Asking Price Sales Volume: $280,936,000

Average Asking Price: $6,852,098

Median Asking Price: $5,490,000

Average Discount from Original Ask to Last Asking Price: 2%

Average Days on Market: 484









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