Fair Housing Notice

OLSHAN LUXURY MARKET REPORT
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
December 26, 2022-January 1, 2023

13 Contracts Signed

Thirteen contracts were signed last week in Manhattan at $4 million and above, 13 fewer than the previous week’s total. Condos outsold co-ops, 7-5, and 1 townhouse was in the mix.

Stat Geek Alert: The last time New Year’s Day landed on Sunday was in 2017, when the week’s total was 15 contracts. The 10-year average of contracts signed in the last week in December is 14.

The No. 1 contract was 5/6D at 812 Park, asking $11.5 million; it was listed in September. The duplex co-op has 4 bedrooms, 5.5 bathrooms, and a staff room. It was purchased in 2013 for $8.5 million and then renovated. The downstairs entertaining space includes a corner 25-foot living room with a fireplace that opens onto a 17’x 17’ formal dining room, eat-in kitchen, and staff room. A sweeping staircase leads to 4 upstairs bedrooms. Amenities include a doorman, gym, and storage.

The No. 2 contract was the 5th floor of 235 West 71st Street, asking $8,995,000. The full-floor prewar condo has 4,772 square feet including 5 bedrooms and 4.5 bathrooms. The sellers purchased the unit, including a storage bin, for $4,806,000 in January 2010; an entire floor with 4 apartments was gut renovated and combined into one unit. The condo has a 28-foot entrance gallery and a 40-foot living room. Amenities in this 17-unit building include a doorman, gym, and a courtyard with a basketball hoop.

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. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 3 1 0 1 Avg.Ask:
$6,840,000
5
Condos 3 2 0 2 Avg.Ask:
$6,487,714
Avg.$/sq.ft.:
$2,520/sq/ft/
Avg.Size:
2,575 sq.ft.
7
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 0 0 0 1 Avg.Ask:
$6,500,000
Avg.$/sq.ft.:
$1,348/sq.ft.
Avg.Size:
4822 sq.ft.
1
TOTALS 6 3 0 4 . 13


*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 12 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
December 26, 2022-January 1, 2023
Total Weekly Asking Price Sales Volume: $86,114,000

Average Asking Price: $6,624,154

Median Asking Price: $5,990,000

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

Average Days on Market: 357









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

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