Fair Housing Notice

LUXURY MARKET REPORT 2022
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
April 11-17, 2022

41 Contracts Signed

Forty-one contracts were signed last week in Manhattan at $4 million and above, two more than the previous week and the fourth time this year of 40 or more sales. Condos outsold co-ops, 29-7, and 4 townhouses were in the mix.

Stat Geek Alert: Year-to-date, the luxury market has been averaging 4% negotiability from the original asking price to the last asking price before a property goes to contract. Last week that stat was 0% negotiability, something not seen since 2014.

The No. 1 contract was the 46th floor at 111 West 57th Street, asking $30 million, raised from $28.5 million when it was listed off of floorplans in 2016. This condo has 4,492 square feet including 3 bedrooms and 3.5 bathrooms. A 50x21-foot great room with 14-foot ceilings overlooks 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 PH30 at 301 East 80th Street, asking $27.495 million, raised from $25 million when the property was listed off of floorplans in October 2019. The penthouse has 5,452 square feet including 5 bedrooms and 7.5 bathrooms. It has 12-foot ceilings and 3 terraces that total 893 square feet. The unit is in the new Beckford Tower, a 31-story limestone condo with 72 residences designed by William Sofield. Amenities include doormen, a fitness center, a 65-foot swimming pool, half-court basketball, playroom, game room, and resident’s lounge.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 4 2 0 1 Avg.Ask:
$6,119,286
7
Condos 6 3 2 19 Avg.Ask:
$7,765,466
Avg.$/sq.ft.:
$3,131/sq.ft.
Avg.Size:
$2,480 sq.ft.
30
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 0 2 0 2 Avg.Ask:
$7,998,750
Avg.$/sq.ft.:
$1,369/sq.ft.
Avg.Size:
5,845 sq.ft.
4
TOTALS 10 7 2 22 . 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 37 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW PAGE 2 OF 37 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 11-17, 2022
Total Weekly Asking Price Sales Volume: $307,793,980

Average Asking Price: $7,507,170

Median Asking Price: $4,998,000

Average Discount from Original Ask to Last Asking Price: 0%

Average Days on Market: 541









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