Fair Housing Notice

LUXURY MARKET REPORT 2022
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
September 5-11, 2022

10 Contracts Signed

Ten contracts were signed last week at $4 million and above in Manhattan, half of the previous week’s total. The volume was a dismal $61,219,000, the lowest of the year. Going forward, it would seem that the luxury market sales in Manhattan could be as choppy as the stock market.

Stat Geek Alert: The post-Labor Day week’s 10-year average of contracts signed is 14.

The No. 1 contract was 4A at 177 Ninth Avenue, asking $12.5 million; it started marketing in July. The unit has 3,176 square feet including 4 bedrooms and 4.5 bathrooms, with views of gardens and the Theological Seminary. The seller paid $9,939,120 in July 2017 and then renovated. It is in a building called the Chelsea Enclave, a condop (a co-op with condo rules). Amenities include a doorman, gym, a roof deck, and parking.

The No. 2 contract was 1504 at 515 West 18th Street, asking $9,550,000, raised from $8,775,000 when the building started marketing in the summer of 2020. The condo has 2,536 square feet including 4 bedrooms and 4.5 bathrooms. The building, known as The Lantern, was designed by Heatherwick Studio (architects of the Vessel at Hudson Yards and Little Island). Amenities include a doorman, a health club that features a 75-foot swimming pool, infrared sauna, cold plunge, hot tub, massage/treatment room, steam rooms, a playroom, library, game room, and a yoga and meditation room overlooking the High Line Park.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 1 0 0 0 Avg.Ask:
$4,650,000
1
Condos 1 0 1 5 Avg.Ask:
$5,695,000
Avg.$/sq.ft.:
$2,623/sq.ft.
Avg.Size:
2,172 sq.ft.
7
Condop* 0 0 0 1 Avg.Ask:
$12,500,000
Avg.$/sq.ft.:
$3,936/sq.ft.
Avg.Size:
3,176 sq.ft.
1
Townhouses 0 0 0 1 Avg.Ask:
$4,199,000
Avg.$/sq.ft.:
$4,203/sq.ft.
Avg.Size:
999 sq.ft.
1
TOTALS 2 0 1 7 . 10


*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 9 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 1 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
September 5-11, 2022
Total Weekly Asking Price Sales Volume: $61,219,000

Average Asking Price: $6,121,900

Median Asking Price: $4,872,500

Average Discount from Original Ask to Last Asking Price: 5%

Average Days on Market: 635









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