Fair Housing Notice

OLSHAN LUXURY MARKET REPORT
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
May 27-June 2, 2024

24 Contracts Signed

Twenty-four contracts were signed last week in Manhattan at $4 million and above, 6 fewer than the previous week. Condos outsold co-ops, 17-6, with 1 townhouse in the mix.

The 24-contract total is exactly the same as the 10-year average for contracts (24) in a shortened post-Memorial Day week.

The No. 1 contract was the 5th floor at 760 Madison Avenue, asking $25,000,000. The new condo in the Giorgio Armani Residences has 4,869 square feet including 4 bedrooms and 4.5 baths, plus a terrace and 2 balconies. The living room, dining room, eat-in kitchen, and 2 bedrooms overlook Madison Avenue. The 10-unit, 12-story condo was designed by CookFox. Amenities include a doorman, fitness center, and residents’ lounge. The ground-floor retail space will be occupied by Armani, and the designer plans to live in the building. The building quietly started marketing last summer, and has sold 70% of its units, with asking prices averaging $5,033/sq.ft.

The No. 2 contract was 17DC at 50 West 66th Street, asking $24,950,000. The building is now under construction. The 7,112-square-foot condo is a combination of 2 units, which include 6 bedrooms, 6.5 bathrooms, an office, and a TV/playroom. The unit has Central Park views from the living room and eat-in kitchen. 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.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 5 0 0 1 Avg.Ask:
$8,766,667
6
Condos 3 3 5 6 Avg.Ask:
$10,211,765
Avg.$/sq.ft.:
$3,230/sq.ft.
Avg.Size:
3,161 sq.ft.
17
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 1 0 0 0 Avg.Ask:
$24,500,000
Avg.$/sq.ft.:
$2,917/sq.ft.
Avg.Size:
6,450 sq.ft.
1
TOTALS 9 3 5 7 . 24


*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 1 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 27-June 2, 2024
Total Weekly Asking Price Sales Volume: $250,699,999

Average Asking Price: $10,445,833

Median Asking Price: $6,897,500

Average Discount from Original Ask to Last Asking Price: 4%

Average Days on Market: 747









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

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