Fair Housing Notice

LUXURY MARKET REPORT 2022
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
April 25-May 1, 2022

39 Contracts Signed

Thirty-nine contracts were signed last week at $4 million and above in Manhattan, two more than the previous week. Condos outsold co-ops, 19-13, and 7 townhouses were in the mix.

Stat Geek Alert: Amazingly, Manhattan’s luxury real estate market turned in a solid performance in April, posting 164 signed contracts at $4 million and above totaling $1,305,282,980. This despite the fact that the stock market closed out a truly awful month---so awful that the tech-heavy NASDAQ registered its worst month since the kick off of the financial crisis in October 2008.

The No. 1 contract was a townhouse at 10 East 76th Street, asking $29.975 million; it was listed in 2018. The 6-story, 22-foot-wide limestone mansion has 12,380 square feet and is divided into 3 units. The house has 7 bedrooms, 9 bathrooms, 13-foot ceilings, and 12 wood-burning fireplaces. Annual taxes total $188,337.

The No. 2 contract was Apartment 45 at 111 West 57th Street, asking $29.75 million, raised from $28.25 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.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 10 0 1 2 Avg.Ask:
$6,179,615
13
Condos 0 3 3 13 Avg.Ask:
$7,276,889
Avg.$/sq.ft.:
$3,063/sq.ft.
Avg.Size:
2,376 sq.ft.
19
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 2 0 3 2 Avg.Ask:
$9,974,286
Avg.$/sq.ft.:
$1,675/sq.ft.
Avg.Size:
5,954 sq.ft.
7
TOTALS 12 3 7 17 . 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 32 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW PAGE 2 OF 32 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 7 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 25-May 1, 2022
Total Weekly Asking Price Sales Volume: $287,014,000

Average Asking Price: $7,359,333

Median Asking Price: $5,595,000

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

Average Days on Market: 586









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