Fair Housing Notice

OLSHAN LUXURY MARKET REPORT
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
January 15-21, 2024

19 Contracts Signed

Nineteen contracts were signed last week at $4 million and above in Manhattan, 2 fewer than the previous week. Condos outsold co-ops, 12-5, and 2 townhouses were in the mix.

The No. 1 contract was a 107/108 at 217 West 57th Street, asking $149,500,000, reduced from $175,000,000 when the building started marketing in February 2018. The duplex condo has 12,557 square feet including 7 bedrooms, 8 bathrooms, 2 powder rooms, and 2 terraces totaling 204 square feet. A 31’x 68’ great room with 27-foot ceilings showcases Central Park and city views; the room opens onto a 7’x 26’ terrace. Sources close to the deal said it took months to negotiate; The Wall Street Journal reported that the contract was signed for close to $115 million, which would make it one of the top 5 sales in Manhattan residential history.

The unit is in Central Park Tower, a 1,550-foot-tall skyscraper with 179 units and over 50,000 square feet of amenities including indoor and outdoor pools, a fitness center, a children’s playroom, and a club room with a ballroom, bar, dining facilities, and a cigar lounge.

The No. 2 contract was a townhouse at 15 Bank Street, asking $30 million; it was listed at the beginning of December. This 22-foot-wide 4-story brick house has 6,000 square feet including 5 bedrooms, 5 bathrooms, 2 powder rooms, and an elevator. The seller purchased the house for $11.75 million in 2007 and then renovated, employing architect Steven Harris. Annual real estate taxes total $91,904.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 3 0 0 2 Avg.Ask:
$8,309,000
5
Condos 2 2 2 6 Avg.Ask:
$21,165,667
Avg.$/sq.ft.:
$5,772/sq.ft.
Avg.Size:
3,667 sq.ft.
12
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 0 1 0 1 Avg.Ask:
$17,500,000
Avg.$/sq.ft.:
$2,816/sq.ft.
Avg.Size:
6,213 sq.ft.
2
TOTALS 5 3 2 9 . 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 17 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
January 15-21, 2024
Total Weekly Asking Price Sales Volume: $330,533,000

Average Asking Price: $17,396,474

Median Asking Price: $7,250,000

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

Average Days on Market: 527









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