Fair Housing Notice

LUXURY MARKET REPORT 2022
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
July 18-24, 2022

21 Contracts Signed

Twenty-one contracts were signed last week at $4 million and above in Manhattan, 5 more than the previous week. Condos outsold co-ops, 14-3, and 4 townhouses were in the mix.

Stat Geek Alert: Downtown led the way with over half the sales, a consistent trend in the luxury market since the beginning of the year.

The No. 1 contract was 20A at 737 Park Avenue, asking $13.75 million. This sponsor unit has been on and off the market starting in 2014 for as high as $19.695 million. It has 4,337 square feet including 4 bedrooms and 4.5 bathrooms, plus narrow terraces surrounding most of the unit. The 103-unit building was a rental turned into condo at the end of 2013. Amenities include a gym, children’s playroom, a garden room with a catering kitchen, courtyard, bike and storage rooms.

The No. 2 contract was 54B at 53 West 53rd Street, asking $13.245 million, reduced from $14.025 million when it was listed off of floorplans in 2015. The condo has 3,339 square feet including 3 bedrooms and 3.5 bathrooms. The unit features 11-foot ceilings, a 40-foot living room, and a 31.5-foot master bedroom.

53 West 53rd Street was designed by Pritzker Prize-winning architect Jean Nouvel, with interiors by Thierry Despont. Amenities include a concierge, fitness center, 65-foot lap pool, golf simulator, wine room, library, theater, storage, and a children’s playroom.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 1 0 0 2 Avg.Ask:
$5,800,000
3
Condos 2 1 2 9 Avg.Ask:
$7,386,856
Avg.$/sq.ft.:
$2,977/sq.ft.
Avg.Size:
2,481 sq.ft.
14
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 0 1 1 2 Avg.Ask:
$7,097,500
Avg.$/sq.ft.:
$1,656/sq.ft.
Avg.Size:
4,287 sq.ft.
4
TOTALS 3 2 3 13 . 21


*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 17 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
July 18-24, 2022
Total Weekly Asking Price Sales Volume: $149,205,990

Average Asking Price: $7,105,047

Median Asking Price: $5,995,000

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

Average Days on Market: 590









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