Fair Housing Notice

LUXURY MARKET REPORT 2022
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
July 25-31, 2022

24 Contracts Signed

Twenty-four contracts were signed last week at $4 million and above, 3 more than the previous week. Condos outsold co-ops, 18-3, and 3 townhouses were in the mix. The 3 co-ops sales were on the Upper East Side.

Stat Geek Alert: Developers sold half of the properties.

The No. 1 contract was PH20 at 111 West 57th Street, asking $21 million, raised from $19 million when the building started marketing off of floorplans in 2016. This duplex condo has 5,269 square feet including 3 bedrooms and 4.5 bathrooms, plus terraces totaling 3,788 square feet. A 42’ x 25’ great room with 26-foot ceilings is surrounded by a terrace that overlooks Central Park. Two bedrooms are downstairs and open onto a 226 square foot terrace. Upstairs is a master bedroom that opens onto a terrace with over 2,500 square feet.

111 West 57th Street is a 60-unit, 82-story building that rises 1,428 feet on the former site of the Steinway & Sons piano store. Completion is expected by the end of the year or by the first quarter of 2023. 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 PHA at 299 West 12th Street, asking $18.3 million; it was listed in the third week of June. This prewar condo duplex has approximately 2,950 square feet including 1 bedroom, a study, and 2.5 bathrooms. The unit has landscaped terraces totaling 1,950 square feet and views in all directions. Downstairs is configured as a living room with a fireplace, a formal dining room, and a large kitchen. A solarium built on part of the terrace serves as an office. Upstairs features a master suite with 14-foot ceilings and another terrace. The unit sold quickly to a buyer currently living in the Village. Amenities include a doorman, superintendent, storage, and laundry.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 3 0 0 0 Avg.Ask:
$6,590,000
3
Condos 2 5 1 10 Avg.Ask:
$7,790,083
Avg.$/sq.ft.:
$3,010/sq.ft.
Avg.Size:
2,588 sq.ft.
18
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 1 1 0 1 Avg.Ask:
$8,880,000
Avg.$/sq.ft.:
$1,395/sq.ft.
Avg.Size:
6,367 sq.ft.
3
TOTALS 6 6 1 11 . 24


*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 21 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

© 2024 Olshan Realty | All Rights Reserved.
This website, its content, and the Olshan Luxury Report is copyright of Olshan Realty.



Source: Olshan Realty




QUICK STATS

for the week of
July 25-31, 2022
Total Weekly Asking Price Sales Volume: $186,631,500

Average Asking Price: $7,776,313

Median Asking Price: $6,535,000

Average Discount from Original Ask to Last Asking Price: 1%

Average Days on Market: 557









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This website, its content, and the Olshan Luxury Report is copyright of Olshan Realty.

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