Fair Housing Notice

OLSHAN LUXURY MARKET REPORT
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
June 10-16, 2024

31 Contracts Signed

Thirty-one contracts were signed last week in Manhattan at $4 million and above, 7 more than the previous week. Condos outsold co-ops, 18-5, with 2 condops and 6 townhouses in the mix.

Stat Geek Alert: Last week’s total of 31 contracts matches the total in the same week of 2023.

The No. 1 contract was the 8th floor at 760 Madison Avenue, asking $23,500,000. The new condo in the Giorgio Armani Residences has 4,530 square feet including 5 bedrooms and 5.5 baths. The 31-foot living room, dining room, eat-in kitchen, and 2 bedrooms overlook Madison Avenue. This is the third time this year that a unit in 760 Madison Avenue has taken the top spot. The 10-unit, 12-story condo was designed by CookFox and has only the penthouse left ($32,500,000 for 4,216 sq.ft). 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, which is currently under construction. The building quietly started marketing last summer and has sold units with asking prices averaging $5,052/sq.ft.

The No. 2 contract was 14D at 211 Central Park West, asking $15,950,000, reduced from $22 million; it has been on and off the market since October 2021, cycling through 3 brokerage firms. The co-op has 4 bedrooms and 4.5 bathrooms and features a spectacular 30-foot corner living room facing east and south with views of Central Park. The formal dining room also overlooks Central Park, and 3 bedrooms plus a library face south over the Natural History Museum. The unit is in a building known as The Beresford. Amenities include doormen, a fitness center, and storage.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 3 1 0 1 Avg.Ask:
$9,629,000
5
Condos 4 3 1 10 Avg.Ask:
$6,521,944
Avg.$/sq.ft.:
$2,621/sq.ft.
Avg.Size:
2,488 sq.ft.
18
Condop* 0 0 1 1 Avg.Ask:
$8,372,500
Avg.$/sq.ft.:
$3,132/sq.ft.
Avg.Size:
2,673 sq.ft.
2
Townhouses 2 1 0 3 Avg.Ask:
$7,839,833
Avg.$/sq.ft.:
$2,205/sq.ft.
Avg.Size:
3,555 sq.ft.
6
TOTALS 9 5 2 15 . 31


*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 25 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 6 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 10-16, 2024
Total Weekly Asking Price Sales Volume: $229,324,000

Average Asking Price: $7,397,548

Median Asking Price: $5,995,000

Average Discount from Original Ask to Last Asking Price: 7%

Average Days on Market: 485









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