Fair Housing Notice

OLSHAN LUXURY MARKET REPORT
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
April 1-7, 2024

26 Contracts Signed

Twenty-six contracts were signed last week in Manhattan at $4 million and above, four fewer than the previous week. Condos outsold co-ops, 17-3, with 2 condops and 4 townhouses in the mix.

Stat Geek Alert: Sponsors dominated the week with half of the contracts signed in new buildings.

The No. 1 contract was 37B at 432 Park Avenue, asking $12,400,000, reduced from $18,250,000 when it was listed in 2015. The new condo has 4,003 square feet including 3 bedrooms, 4 bathrooms, and a powder room. It features 12’6” ceilings, a corner 29’ x 29’ living room with city views, and 10’ x 10’ windows; it is one of the last sponsor units to be sold. 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.

The No. 2 contract was a townhouse at 244 West 11th Street, asking $10,000,000, reduced from $12,000,000 when it was listed in December. The 3-story house has 3,340 square feet and needs a total renovation. It is being sold with renderings and plans that expand the house to 5,451 square feet with 4 bedrooms and 5.5 baths. The seller paid $8,500,000 in May 2021.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 1 1 0 1 Avg.Ask:
$5,798,333
3
Condos 3 5 3 6 Avg.Ask:
$6,512,838
Avg.$/sq.ft.:
$2,305/sq.ft.
Avg.Size:
2,826 sq.ft.
17
Condop* 0 0 0 2 Avg.Ask:
$4,508,125
Avg.$/sq.ft.:
$2,220/sq.ft.
Avg.Size:
2,031 sq.ft.
2
Townhouses 1 0 0 3 Avg.Ask:
$7,675,000
Avg.$/sq.ft.:
$2,027/sq.ft.
Avg.Size:
3,786 sq.ft.
4
TOTALS 5 6 3 12 . 26


*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 22 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
April 1-7, 2024
Total Weekly Asking Price Sales Volume: $163,508,250

Average Asking Price: $6,480,894

Median Asking Price: $6,250,000

Average Discount from Original Ask to Last Asking Price: 12%

Average Days on Market: 939









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

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