Fair Housing Notice

OLSHAN LUXURY MARKET REPORT
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
July 24-30, 2023

19 Contracts Signed

Nineteen contracts were signed last week in Manhattan at $4 million and above, 3 fewer than the previous week. Condos outsold co-ops, 13-2, with 1 condop and 3 townhouses in the mix.

Stat Geek Alert: The total of 19 contracts is the lowest in 6 months—since the last week of January, when 15 contracts were inked.

The No. 1 contract was a townhouse at 58 Bank Street, asking $25 million, reduced from $27.5 million when it was listed in April. The seller paid $18.14 million in July 2015 and then renovated. The 5-story, 20-foot-wide house has 4 bedrooms, 5.5 bathrooms, and an elevator. It features a saline pool in the basement, a garden on the ground floor, and a library on the 5th floor with a double-height celling topped by a domed-shaped skylight. The library has glass doors that open onto a south-facing roof deck. Annual real estate taxes are $91,149.

The No. 2 contract was 15A at 685 Fifth Avenue, asking $22,050,000. This Mandarin Oriental residence condo has 3,374 square feet, plus 2 terraces totaling 760 square feet. The living room and 3rd bedroom open onto a terrace overlooking Fifth Avenue with a peek of Central Park. The other terrace is off the master bedroom. The apartment was sold to a foreigner who also owns another Mandarin residence in Europe.

The 65-unit, 29-story building is being sold with furnished units outfitted with dishes and Italian linens. Amenities include concierge, doormen, a private restaurant, outdoor pool, and fitness center. Closings have just started on the lower floors.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 1 1 0 0 Avg.Ask:
$6,495,000
2
Condos 3 3 3 4 Avg.Ask:
$8,260,922
Avg.$/sq.ft.:
$3,043/sq.ft.
Avg.Size:
2,714 sq.ft.
13
Condop* 0 0 0 1 Avg.Ask:
$4,195,000
Avg.$/sq.ft.:
$1,863/sq.ft.
Avg.Size:
2,252 sq.ft.
1
Townhouses 0 2 0 1 Avg.Ask:
$13,763,333
Avg.$/sq.ft.:
$2,358/sq.ft.
Avg.Size:
5,837 sq.ft.
3
TOTALS 4 6 3 6 . 19


*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 16 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 24-30, 2023
Total Weekly Asking Price Sales Volume: $163,366,980

Average Asking Price: $8,598,262

Median Asking Price: $6,300,000

Average Discount from Original Ask to Last Asking Price: 6%

Average Days on Market: 943









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