Fair Housing Notice

LUXURY MARKET REPORT 2022
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
June 6-12, 2022

25 Contracts Signed

Twenty-five contracts were signed last week in Manhattan at $4 million and above, three fewer than the previous week. Surprisingly, the top three sales cracked $20 million, despite another miserable week in the stock market sparked by unrelenting inflation and rising interest rates.

The No. 1 contract was PH29 at 301 East 80th Street, asking $26.495 million, raised from $25 million when the unit was offered off of floorplans in the fall of 2019. The penthouse has 6,522 square feet including 6 bedrooms and 7.5 bathrooms. It has 13-foot ceilings and a terrace totaling 193 square feet that faces west. The unit is in the new Beckford Tower, a 31-story limestone condo with 72 residences that was 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.

The No. 2 contract was 2B/4 at 3 East 75th Street, asking $22.5 million, reduced from $24 million when it was listed in February. This dramatic condo duplex has 5,263 square feet including 3 bedrooms, 3.5 bathrooms, 3 fireplaces, and 2 terraces. It features a 28’ x 28’ great room with 17-foot ceilings and a mezzanine library. The owner paid $7,989,425 in 2006. The apartment is in a 7-unit 50-foot-wide limestone mansion that was built in 1904. It has no amenities.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 4 2 0 1 Avg.Ask:
$5,086,429
7
Condos 2 3 0 10 Avg.Ask:
$10,125,000
Avg.$/sq.ft.:
$3,199/sq.ft.
Avg.Size:
3,165 sq.ft.
15
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 0 2 0 1 Avg.Ask:
$5,966,667
Avg.$/sq.ft.:
$1,541/sq.ft.
Avg.Size:
3,873 sq.ft.
3
TOTALS 6 7 0 12 . 25


*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 22 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 3 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
June 6-12, 2022
Total Weekly Asking Price Sales Volume: $205,380,000

Average Asking Price: $8,215,200

Median Asking Price: $5,795,000

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

Average Days on Market: 349









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