Fair Housing Notice

LUXURY MARKET REPORT 2022
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
August 22-28, 2022

21 Contracts Signed

Twenty-one contracts were signed last week at $4 million and above, 13 more than the previous week, which registered the lowest number since the week of August 3-9, 2020. The rebound was led by condos, which outsold co-ops, 17-2, with 2 townhouses in the mix.

The No. 1 contract was a townhouse at 2 East 82nd Street, asking $25 million; it was on and off the market since 2019, starting at $32 million. This handsome 6-story, 25-foot-wide, brick-and-limestone house with a commercial elevator has 12,316 square feet. It was sold by the Marymount School, which has been using the house as a middle school. Originally built as a single-family home, the townhouse needs to be completely renovated.

The No. 2 contract was 26/27D at 1965 Broadway, asking $13.95 million, reduced from $14.95 million when it was listed in March 2021. The duplex condo has 4,800 square feet including 5 bedrooms, 6 bathrooms, 2 powder rooms, a mahogany-paneled library, and spectacular views of Central Park and the city. The two combined units were renovated in 2010. Amenities include a doorman, concierge, and resident manager.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 1 0 0 1 Avg.Ask:
$4,047,500
2
Condos 0 1 2 14 Avg.Ask:
$6,424,412
Avg.$/sq.ft.:
$2,605/sq.ft.
Avg.Size:
2,467 sq.ft.
17
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 1 0 0 1 Avg.Ask:
$17,900,000
Avg.$/sq.ft.:
$2,036/sq.ft.
Avg.Size:
8,790 sq.ft.
2
TOTALS 2 1 2 16 . 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 19 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 2 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
August 22-28, 2022
Total Weekly Asking Price Sales Volume: $153,110,000

Average Asking Price: $7,290,952

Median Asking Price: $5,995,000

Average Discount from Original Ask to Last Asking Price: 9%

Average Days on Market: 558









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