Fair Housing Notice

OLSHAN LUXURY MARKET REPORT
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
March 11-17, 2024

40 Contracts Signed

Forty contracts were signed last week in Manhattan at $4 million and above, twelve more than the previous week. You read that right! Condos outsold co-ops, 30-7, and 3 townhouses were in the mix.

Stat Geek Alert I: Year-to-date, this is the first time the luxury market has topped 30 or more contracts (in 2023, the luxury market registered 13 weeks of 30 or more contracts).

Stat Geek Alert II: Last week’s total was the largest since the week of May 8-14, 2023, when 40 contracts were signed. This time, the action skewed closer to the lower end of the luxury market with more than half of the properties below $5,500,000.

The No. 1 contract was 41NS at 50 West 66th Street, asking $46,750,000. The 6,942-square-foot condo is a combination of 2 units that includes 5 bedrooms, 5.5 bathrooms, 14-foot ceilings, and Central Park views. A 56-foot great room facing Central Park is flanked by 2 loggias. Amenities in the 122-unit condo include doormen, a fitness center, indoor lap pool, an outdoor saltwater pool and jacuzzi, basketball and pickleball courts, screening room, game room, bike room, and dog-washing facility.

The No. 2 contract was 60 Bank Street, a townhouse asking $11,500,000, reduced from $13,750,000 when it was listed in April 2022. The 23-foot-wide, 4-story house has 4,350 square feet and is configured as a duplex with 4 units on the upper floors. It has a south-facing garden and a roof deck. The house was in contract in May 2023, but the deal fell through, and it was re-listed in December. Annual real estate taxes are $80,003.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 4 2 0 1 Avg.Ask:
$5,519,286
7
Condos 3 7 3 17 Avg.Ask:
$7,508,148
Avg.$/sq.ft.:
$3,005/sq.ft.
Avg.Size:
2,498 sq.ft.
30
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 0 2 0 1 Avg.Ask:
$8,800,000
Avg.$/sq.ft.:
$1,917/sq.ft.
Avg.Size:
4,590 sq.ft.
3
TOTALS 7 11 3 19 . 40


*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 37 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW PAGE 2 OF 37 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
March 11-17, 2024
Total Weekly Asking Price Sales Volume: $290,279,450

Average Asking Price: $7,256,986

Median Asking Price: $5,487,225

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

Average Days on Market: 726









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