Fair Housing Notice

OLSHAN LUXURY MARKET REPORT
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
May 6-12, 2024

32 Contracts Signed

Thirty-two contracts were signed last week in Manhattan at $4 million and above, six more than the previous week. Condos outsold co-ops, 16-10, with 1 condop and 5 townhouses in the mix.

10 contracts were signed at $10 million and above, the second straight week of strong trophy sales and the biggest week since July 10-16, 2023, when 10 contracts were also signed.

The No. 1 contract was the 86th floor of 157 West 57th Street, asking $38,500,000; it was listed on March 1. The condo has 6,240 square feet including 4 bedrooms and 5.5 bathrooms. A 57’ x 26’ great room and a 30-foot master bedroom have sweeping views of Central Park. The building was designed by Pritzker Prize-winning architect Christian de Portzamparc, with interiors by Thomas Juul-Hansen. The 90-story, 90-unit condo is built above the 5-star Park Hyatt Hotel, which has a separate entrance for its 210 rooms. Amenities include use of hotel services, a fitness center, pool, private dining, a library lounge, performance space, and a garage. The seller paid $31,900,000 in July 2021.

The No. 2 contract was a townhouse at 118 West 12th Street, asking $18,995,000. The 4-story, 24-foot-wide brick house has 6,600 square feet and was renovated. It is configured as 5 bedrooms, 3 bathrooms, and 2 powder rooms. The ground floor features a dining room, kitchen, and family room that open onto a 736-square-foot landscaped garden. The primary suite encompasses the third floor. The top floor has 4 bedrooms and a 13’x 22’ terrace. The seller paid $17,900,000 in November 2023. Prior to that, the house was sold in 2021 for $14,940,000.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 6 1 2 1 Avg.Ask:
$8,874,000
10
Condos 2 4 2 8 Avg.Ask:
$9,812,125
Avg.$/sq.ft.:
$3,381/sq.ft.
Avg.Size:
2,902 sq.ft.
16
Condop* 0 0 0 1 Avg.Ask:
$5,570,000
Avg.$/sq.ft.:
$2,958/sq.ft.
Avg.Size:
1,883/sq.ft.
1
Townhouses 1 0 0 4 Avg.Ask:
$12,436,000
Avg.$/sq.ft.:
$2,160/sq.ft.
Avg.Size:
5,758 sq.ft.
5
TOTALS 9 5 4 14 . 32


*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 27 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 5 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
May 6-12, 2024
Total Weekly Asking Price Sales Volume: $313,484,000

Average Asking Price: $9,796,375

Median Asking Price: $7,350,000

Average Discount from Original Ask to Last Asking Price: 8%

Average Days on Market: 388









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