Fair Housing Notice

LUXURY MARKET REPORT 2022
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
April 4-April 10, 2022

39 Contracts Signed

Thirty-nine contracts were signed last week in Manhattan at $4 million and above, 8 more than the previous week. Condos outsold co-ops, 28-7, and 4 townhouses were in the mix.

Stat Geek Alert: Nineteen out of the 28 condos were sold by developers.

For the first time since the end of September, a co-op took the top spot--- the 5th floor at 944 Fifth Avenue, asking $20 million, reduced from $25 million when it was listed in October. The seller, art dealer Robert Mnuchin (and father of former Treasury Secretary Steven Mnuchin), paid $20 million for the unit in January 2008. It is a full floor with 4 bedrooms, 3 bathrooms, and 3 powder rooms. A 42-foot living room and 20-foot master bedroom face Central Park. Amenities include a doorman, fitness room, and storage. The building only allows 33% mortgage financing.

The No. 2 contract was a townhouse at 123 East 61st Street, asking $18.8 million, the same price when it went on market in February 2021. The seller paid $12 million in 2015 and then gut renovated the house in a contemporary style. It has a stucco façade, and is 19.5-feet wide with 6 stories and 9,200 square feet. The house has 7 bedrooms, 8.5 bathrooms, a garden, and rooftop terrace. Annual real estate taxes total $138,268.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 5 1 0 1 Avg.Ask:
$7,369,143
7
Condos 3 7 2 16 Avg.Ask:
$6.775,000
Avg.$/sq.ft.:
$2,726/sq.ft.
Avg.Size:
2,485 sq.ft.
28
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 2 0 0 2 Avg.Ask:
$13,948,750
Avg.$/sq.ft.:
$2,123/sq.ft.
Avg.Size:
6,569 sq.ft.
4
TOTALS 10 8 2 19 . 39


*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 35 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW PAGE 2 OF 35 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
April 4-April 10, 2022
Total Weekly Asking Price Sales Volume: $297,079,000

Average Asking Price: $7,617,410

Median Asking Price: $5,995,000

Average Discount from Original Ask to Last Asking Price: 5%

Average Days on Market: 707









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