Fair Housing Notice

OLSHAN LUXURY MARKET REPORT
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
July 1-7, 2024

22 Contracts Signed

Twenty-two contracts were signed last week in Manhattan at $4 million and above, 8 fewer than the previous week. Condos outsold co-ops, 13-7, with 1 condop and 1 townhouse in the mix.

Last week’s total beat the 10-year average of 19 contracts for the July 4 holiday week.

The No. 1 contract was PH76 at 430 East 58th Street, asking $21 million, reduced from $25 million when this condo building launched sales in December 2022. The full floor has 4,595 square feet including 4 bedrooms, 4.5 bathrooms, 15-foot ceilings, and dramatic East River, Central Park, and city views. The unit has a loggia off the entrance gallery, a corner 31-foot living room with a gas fireplace, an 18’ x 15’ formal dining room, and eat in kitchen. This new building, known as Sutton Tower, has 121 units on 67 floors. Amenities include a fitness center, a 50-foot pool, game room with a golf simulator, children’s playroom, a dining room with a catering kitchen, and a garden off the lobby. The buyer is a resident of the Upper West Side and closings are expected to start in September.

The No. 2 contract was a townhouse at 184 East 75th Street, asking $13,950,000, reduced from $16,950,000 when it was listed in March 2022 and then cycled through 4 brokerage firms. The 6-story house has 6,000 square feet including 4 bedrooms, 4 bathrooms, 2 powder rooms, and an elevator. It has over 2,000 square feet of outdoor space including a 36-foot garden and terraces on the top floor that flank a gym. The seller paid $5.1 million in May 2011 and then renovated with a rear glass wall and contemporary-design touches throughout.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 3 2 0 2 Avg.Ask:
$7,233,571
7
Condos 3 2 2 6 Avg.Ask:
$7,516,538
Avg.$/sq.ft.:
$2,643/sq.ft.
Avg.Size:
2,844 sq.ft.
13
Condop* 0 0 0 1 Avg.Ask:
$4,495,000
Avg.$/sq.ft.:
$2,340/sq.ft.
Avg.Size:
1,873 sq.ft.
1
Townhouses 1 0 0 0 Avg.Ask:
$13,950,000
Avg.$/sq.ft.:
$2,325/sq.ft.
Avg.Size:
6,000 sq.ft.
1
TOTALS 7 4 2 9 . 22


*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 21 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
July 1-7, 2024
Total Weekly Asking Price Sales Volume: $166,795,000

Average Asking Price: $7,581,591

Median Asking Price: $5,885,000

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

Average Days on Market: 409









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

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