Fair Housing Notice

OLSHAN LUXURY MARKET REPORT
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
April 29-May 5, 2024

26 Contracts Signed

Twenty-six contracts were signed last week in Manhattan at $4 million and above, three fewer than the previous week. Condos outsold co-ops, 16-6, with 1 condop and 3 townhouses in the mix.

Stat Geek Alert: Eight of the 26 contracts signed last week were at $10 million and above, the largest total of trophy properties since the first week of October 2023, when 9 were sold.

The No. 1 contract was West 25D at 500 West 18th Street, asking $13,770,000, reduced from $14,085,000. The corner condo has 3,881 square feet including 4 bedrooms, 4.5 bathrooms, and a 30’ x 32’ great room showcasing north, east, and south views. The building is known as One Highline, and it has a robust slate of amenities including a fitness center, a 75-foot lap pool, spa-treatment rooms, a golf simulator, children''s playroom, private dining, a games lounge, and a garage. Services are offered from the adjacent Faena Hotel, which is part of the condo project.

The No. 2 contract was a townhouse at 5 East 10th Street, asking $12,995,000, reduced by $1 million when it was listed in January 2023. The 5-story, 25-foot- wide house was built in 1890 and has 9,650 square feet. It features 7 fireplaces and a distinctive bay-metal window on the brick façade, but the entire house needs to be completely renovated. Annual real estate taxes total $97,457.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 3 2 0 1 Avg.Ask:
$6,790,833
6
Condos 2 2 2 10 Avg.Ask:
$8,687,266
Avg.$/sq.ft.:
$2,978/sq.ft.
Avg.Size:
2,917 sq.ft.
16
Condop* 0 0 0 1 Avg.Ask:
$5,300,000
Avg.$/sq.ft.:
$2,038/sq.ft.
Avg.Size:
2,600 sq.ft.
1
Townhouses 2 0 0 1 Avg.Ask:
$10,248,333
Avg.$/sq.ft.:
$1,433/sq.ft.
Avg.Size:
7,153 sq.ft.
3
TOTALS 7 4 2 13 . 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 23 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
April 29-May 5, 2024
Total Weekly Asking Price Sales Volume: $215,786,250

Average Asking Price: $8,299,471

Median Asking Price: $8,940,000

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

Average Days on Market: 797









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

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