Fair Housing Notice

OLSHAN LUXURY MARKET REPORT
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
June 24-30, 2024

30 Contracts Signed

Thirty contracts were signed last week in Manhattan at $4 million and above, the same total as the previous week. Condos outsold co-ops, 19-6, with 1 condop and 4 townhouses in the mix. Two brownstones led the week.

Stat Geek Alert: The 2nd quarter ended with 8.4% fewer contracts signed than the 2nd quarter in 2023 (358 contracts in 2024 vs. 391 in 2023).

Stat Geek Alert II: Nevertheless, the quarter saw a slight improvement (6.8%) in the trophy market at $10 million and above. In the 2nd quarter, 78 contracts were signed compared to 73 in 2023.

The No. 1 contract was 15 East 93rd Street, asking $12,950,000, reduced from $15,850,000 when it was listed in July 2023. The 5-story, 20-foot-wide house has 7,270 square feet including 7 bedrooms, 5 bathrooms, and 7 woodburning fireplaces. A ground-floor kitchen, breakfast room, and pantry open onto a 19’ x 38’ landscaped garden. The house doesn’t have an elevator. Annual real estate taxes are $86,965. It was sold to a local buyer.

The No. 2 contract was 312 West 88th Street, asking $11,650,000; it was listed at the end of April. The 5-story, 21-foot-wide house, built in 1893, is close to 8,000 square feet and has been renovated. It has 7 bedrooms, 6.5 bathrooms, an elevator, radiant heat floors, multi-zoned central air conditioning, new Marvin windows, 3 gas fireplaces, 2 woodburning fireplaces, and a 30-foot-long landscaped garden. Annual real estate taxes are $59,080. The seller paid $4.3 million in March 2008.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 2 2 1 1 Avg.Ask:
$5,020,000
6
Condos 4 4 0 11 Avg.Ask:
$6,630,526
Avg.$/sq.ft.:
$2,354/sq.ft.
Avg.Size:
2,817 sq.ft.
19
Condop* 0 0 0 1 Avg.Ask:
$5,820,000
Avg.$/sq.ft.:
$3,091/sq.ft.
Avg.Size:
1,883 sq.ft.
1
Townhouses 1 1 0 2 Avg.Ask:
$9,272,500
Avg.$/sq.ft.:
$1,647/sq.ft.
Avg.Size:
5,631 sq.ft.
4
TOTALS 7 7 1 15 . 30


*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 26 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 4 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 24-30, 2024
Total Weekly Asking Price Sales Volume: $195,970,000

Average Asking Price: $6,532,333

Median Asking Price: $5,885,000

Average Discount from Original Ask to Last Asking Price: 10%

Average Days on Market: 590









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

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