Fair Housing Notice

OLSHAN LUXURY MARKET REPORT
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
August 14-20, 2023

19 Contracts Signed

Nineteen contracts were signed last week in Manhattan at $4 million and above, 2 more than the previous week. Condos outsold co-ops, 14-4, and 1 townhouse was in the mix.

Stat Geek Alert: The lone townhouse contract was 246 East 49th Street, owned by the late, legendary Broadway composer and lyricist Stephen Sondheim (Sweeney Todd, Into the Woods). The house was listed in July, asking $7 million. Sondheim purchased the home in 1960 with the proceeds from his hit musical Gypsy. He won 8 Tony awards and a Pulitzer prize in 1984 for Sunday in the Park with George. The house can be seen in the townhouse link at the end of this report.

For the fourth time this year, the No. 1 spot was taken by a unit in 500 West 18th Street. This time it was PH32A, asking $25 million, reduced from $28 million when the condo first launched in 2018 as the XI, a project with 2 buildings--a condo and a hotel--that landed in a $1 billion-plus foreclosure in 2021 and then was rebranded as One Highline. The apartment has 5,663 square feet including 5 bedrooms and 5.5 bathrooms. A 48-foot great room, large kitchen, and living room open onto a 239-square-foot loggia. 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 rebranded project.

The No. 2 contract was 63B at 432 Park Avenue, asking $24.5 million, reduced from $28 million when it was listed in February 2022. The corner unit has 4,019 square feet including 3 bedrooms, 4.5 bathrooms and features 12.5-foot-tall ceilings with 10’ x 10’ windows that showcase Central Park, city, and river views. The seller paid $24,582,962 in March 2016

432 Park is 96 stories high, a concrete-and-glass edifice designed by the late Rafael Vinoly that can be seen from almost anywhere in the 5 boroughs. Amenities include a fitness center, a 75-foot swimming pool, private dining room, parking, a garden, and a children’s playroom.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 4 0 0 0 Avg.Ask:
$7,437,250
4
Condos 1 0 3 10 Avg.Ask:
$9,345,357
Avg.$/sq.ft.:
$3,003/sq.ft.
Avg.Size:
3,113 sq.ft.
14
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 0 0 1 0 Avg.Ask:
$7,000,000
Avg.$/sq.ft.:
$1,250/sq.ft.
Avg.Size:
5,600 sq.ft.
1
TOTALS 5 0 4 10 . 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 18 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
August 14-20, 2023
Total Weekly Asking Price Sales Volume: $167,584,000

Average Asking Price: $8,820,211

Median Asking Price: $5,750,000

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

Average Days on Market: 657









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