Fair Housing Notice

LUXURY MARKET REPORT 2022
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
June 27-July 3, 2022

26 Contracts Signed

Twenty-six contracts were signed last week at $4 million and above in Manhattan, six more than the previous week. Condos outsold co-ops, 20-3, and 3 townhouses were in the mix. It was a robust performance that showcased the resilience of the residential luxury market---particularly in light of the 20.6% decline in the S&P 500 in the first six months of this year. That marked the S&P 500’s worst performance since 1970. At the same time, the Nasdaq was down 30%.

The No. 1 contract was a townhouse at 17 West 9th Street, asking $13.995 million, reduced from $19,995,000 when it was listed a year ago. This 5-story, 26-foot-wide Italianate-style townhouse is configured as ground-floor commercial space with 6 rental units above it. Annual real estate taxes are $118,409.

The No. 2 contract was PH86B at 15 Hudson Yards, a sponsor unit asking $12,915,000. The condo has 3,147 square feet including 4 bedrooms and 4.5 bathrooms and featuring 10.8-foot ceilings. It also features dramatic south and west views of the Hudson River. 15 Hudson Yards has 285 units on 88 floors; it started marketing off of floors plans in October 2016. Amenities include a concierge, fitness center, 75-foot pool, a children’s playroom, a ballroom and catering kitchen, and a residents’ lounge.

Happy July 4 to all!



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 1 0 1 1 Avg.Ask:
$6,666,667
3
Condos 0 5 3 12 Avg.Ask:
$7,526,500
Avg.$/sq.ft.:
$2,822/sq.ft.
Avg.Size:
2,667 sq.ft.
20
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 0 2 0 1 Avg.Ask:
$10,898,333
Avg.$/sq.ft.:
$1,815/sq.ft.
Avg.Size:
6,005 sq.ft.
3
TOTALS 1 7 4 14 . 26


*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 23 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 27-July 3, 2022
Total Weekly Asking Price Sales Volume: $203,225,000

Average Asking Price: $7,816,346

Median Asking Price: $7,572,500

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

Average Days on Market: 531









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