Fair Housing Notice

OLSHAN LUXURY MARKET REPORT
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
December 25-31, 2023

10 Contracts Signed

Ten contracts were signed in Manhattan last week at $4 million and above. Condos outsold co-ops, 7-3. Six of the units were sold by sponsors.

Stat Geek Alert I: When you got it, flaunt it: 4 of the 10 units were asking $10 million and above.

Stat Geek Alert II: The last time Christmas Day fell on a Monday was in 2017, when 11 contracts were signed at $4 million and above.

The No. 1 contract was 3B at 15 Central Park West, asking $18,500,000; it was listed in the middle of October. The condo has 3,142 square feet with 3 bedrooms and 3.5 bathrooms. The living room, dining room, and master bedroom face Central Park; the unit is in excellent condition. The seller paid $8,146,000 in December 2007, purchasing the unit from the sponsor. The building was designed by architect Robert A.M. Stern. Amenities include a 14,000-square-foot fitness center with a 75-foot pool, a private restaurant for residents only, a landscaped motor court and garage, library, business center, game room, outdoor terrace, and children’s playroom.

The No. 2 contract was PHA at 685 Fifth Avenue, asking $16.5 million, raised from $15,000,000 when the building started marketing in the Spring of 2022. This Mandarin Oriental condo has 2,341 square feet including 2 bedrooms, 2.5 bathrooms, a 95-square-foot terrace with a slice of Central Park views. The apartment was sold to a domestic buyer who frequently visits New York. The 29-story building has 65 units that are being sold furnished and outfitted with dishes, glassware, and Frette linens. So far, 5 units have closed averaging a hefty $5,119/square foot and 10 other units have been marked as a contract signed.

Happy New Year!!!!



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 2 1 0 0 Avg.Ask:
$7,150,000
3
Condos 1 3 0 3 Avg.Ask:
$10,352,143
Avg.$/sq.ft.:
$4,024/sq.ft.
Avg.Size:
2,572 sq.ft.
7
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
TOTALS 3 4 0 3 . 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 10 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 0 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 25-31, 2023
Total Weekly Asking Price Sales Volume: $93,915,000

Average Asking Price: $9,391,500

Median Asking Price: $8,247,500

Average Discount from Original Ask to Last Asking Price: 8%

Average Days on Market: 860









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

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