Fair Housing Notice

OLSHAN LUXURY MARKET REPORT
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
June 3-9, 2024

24 Contracts Signed

Twenty-four contracts were signed last week in Manhattan at $4 million and above, the same total as the previous week. The mix of properties was also the same as the previous week: Condos outsold co-ops, 17-6, with 1 townhouse in the mix.

The last 8 weeks has seen an 11% decline in the number of contracts signed at $4 million and above over last year.

The No. 1 contract was PHA at 36 Bleecker Street, asking $21 million, reduced from $22,500,000 when it was listed in December. This duplex penthouse condo has 4,480 square feet including 4 bedrooms and 5 baths. Upstairs is a 28-foot great room, a library with a gas fireplace, and a solarium flanked by 2 terraces totaling 1,388 square feet. The bedrooms are downstairs. The unit is in a 6-story, 20-unit condo known as the Schumacher, which was built in 1895 to house a lithography business. Amenities include doormen, a fitness center, storage, playroom, and a rooftop garden. The seller paid $14,800,00 in June 2019.

The No. 2 contract was the 3rd floor of 640 Park Avenue, asking $15 million, reduced from $24 million when it was listed in July 2021. The full floor co-op has 4 bedrooms, 2 staff rooms, 6.5 bathrooms, 6 fireplaces, and 10-foot ceilings. The living room, library, and formal dining room face Park Avenue. Amenities include a doormen and storage. The co-op board allows a maximum of 35% financing. The seller paid $20,500,000 in June 2011.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 4 0 1 1 Avg.Ask:
$7,441,176
6
Condos 4 5 1 7 Avg.Ask:
$7,441,176
Avg.$/sq.ft.:
$2,625/sq.ft.
Avg.Size:
2,835 sq.ft.
17
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 0 0 1 0 Avg.Ask:
$4,500,000
Avg.$/sq.ft.:
$1,500/sq.ft.
Avg.Size:
3,000 sq.ft.
1
TOTALS 8 5 3 8 . 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
June 3-9, 2024
Total Weekly Asking Price Sales Volume: $193,345,000

Average Asking Price: $8,056,042

Median Asking Price: $6,200,000

Average Discount from Original Ask to Last Asking Price: 13%

Average Days on Market: 711









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