Fair Housing Notice

OLSHAN LUXURY MARKET REPORT
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
June 19-25, 2023

32 Contracts Signed

Thirty-two contracts were signed last week in Manhattan at $4 million and above, one more than the previous week. Condos outsold co-ops, 23-7, and 2 townhouses were in the mix.

Stat Geek Alert: For the 5th straight week, the luxury market has cracked 30 contracts signed, putting it on track to be the 2nd strongest June since we started keeping records in 2006. The strongest June was in the record-breaking 2021.

The No. 1 contract was West PH36 at 500 West 18th Street, asking $52 million, reduced from $65 million when it was offered off of floorplans in 2018 by the original developer. It is the most expensive apartment to go to contract Downtown this year.

The unit has 6,933 square feet including 6 bedrooms and 7.5 bathrooms, which are surrounded by a 4,870-square-foot terrace with views in all directions. It is in a condo called One Highline, formerly known as the XI, a project with 2 buildings (a condo and a hotel) that landed in a $1 billion-plus foreclosure in 2021. Amenities include a fitness center, 75-foot lap pool, spa-treatment rooms, a golf simulator, children''s playroom, private dining, a games lounge, and a garage. Services are offered from the adjacent Faena Hotel, which is part of the re-branded project.

The No. 2 contract was the 12th floor at 515 Park Avenue, asking $14,999,000; it has been on the market since February. The full-floor condominium has 5,000 square feet including 6 bedrooms and 6.5 bathrooms. The corner living room, library, and 3 bedrooms face Park Avenue. The owner paid $17.2 million in November 2015. Amenities in the building include doormen, gym, and storage.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 4 1 0 2 Avg.Ask:
$6,861,429
7
Condos 1 1 4 17 Avg.Ask:
$8,680,335
Avg.$/sq.ft.:
$3,281/sq.ft.
Avg.Size:
2,645 sq.ft.
23
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 0 1 0 1 Avg.Ask:
$11,650,000
Avg.$/sq.ft.:
$1,492/sq.ft.
Avg.Size:
7,807 sq.ft.
2
TOTALS 5 3 4 20 . 32


*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 30 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW PAGE 2 OF 30 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

© 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
June 19-25, 2023
Total Weekly Asking Price Sales Volume: $270,976,700

Average Asking Price: $8,468,022

Median Asking Price: $6,372,500

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

Average Days on Market: 564









© 2024 Olshan Realty, Inc. | All Rights Reserved. | Established 1980
641 Lexington Avenue, Suite 2200, New York, NY 10022 | 212-751-3300 | Privacy Policy

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

. . . .