Fair Housing Notice

OLSHAN LUXURY MARKET REPORT
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
February 26-March 3, 2024

27 Contracts Signed

Twenty-seven contracts were signed last week in Manhattan at $4 million and above, 2 fewer than the previous week—and the 3rd week in a row of more than 25 deals. Condos outsold co-ops, 16-6, with 1 condop and 4 townhouses in the mix.

The No. 1 contract was the 9th floor at 778 Park Avenue, asking $20 million reduced from $25 million when it was listed in October. The full floor has 6 bedrooms, 7 bathrooms, 2 powder rooms, 3 wood-burning fireplaces, and 11-foot ceilings. A 19’x 32’ living room, formal dining room, library, and bedroom overlook Park Avenue. Upstairs is a laundry room, and downstairs is a staff room. Monthly maintenance totals $26,435. The co-op board does not allow financing. The building has 18 units and a fulltime doorman.

The No. 2 contract was a townhouse at 14 East 81st Street, asking $19.995 million, reduced from $22 million when it was listed in August. The 20-foot-wide, 5-story limestone house has 6 bedrooms, 8 bathrooms, 3 fireplaces, and an elevator. It has a garden on the ground floor and a terrace off the 3rd floor, which consists of a master bedroom and a gym. Annual real estate taxes are $149,502.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 6 0 0 0 Avg.Ask:
$8,782,500
6
Condos 3 3 2 8 Avg.Ask:
$7,676,250
Avg.$/sq.ft.:
$2,950/sq.ft.
Avg.Size:
2,602 sq.ft.
16
Condop* 1 0 0 0 Avg.Ask:
$9,995,000
Avg.$/sq.ft.:
$2,294/sqft.
Avg.Size:
4,357 sqft.
1
Townhouses 2 0 0 2 Avg.Ask:
$12,995,000
Avg.$/sq.ft.:
$2,422/sq.ft.
Avg.Size:
5,365 sq.ft.
4
TOTALS 12 3 2 10 . 27


*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 23 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 4 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
February 26-March 3, 2024
Total Weekly Asking Price Sales Volume: $237,490,000

Average Asking Price: $8,795,926

Median Asking Price: $7,350,000

Average Discount from Original Ask to Last Asking Price: 11%

Average Days on Market: 605









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