Fair Housing Notice

OLSHAN LUXURY MARKET REPORT
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
July 8-14, 2024

20 Contracts Signed

Twenty contracts were signed last week in Manhattan at $4 million and above, 2 fewer than the previous week. Condos outsold co-ops, 15-3, with 2 townhouses in the mix.

Stat Geek Alert: In the last 2 weeks, 10 penthouses have gone to contract representing 24% of the luxury contracts signed. The average penthouse was asking $10,667,500 and spent 367 days on the market with prices being reduced by an average 15%. The penthouse contracts were divided equally between co-ops and condos.

The No. 1 contract was a townhouse at 83 Horatio Street, asking $22,950,000; it was listed at the end of March. This 5-story, 23-foot-wide brick house has 6,220 square feet including 5 bedrooms, 5 bathrooms, 2 powder rooms, and 4 fireplaces. It was purchased for $10,050,000 in January 2015 and underwent an almost 4-year renovation. It has never been lived in. The house features a 30’ x 23’ landscaped garden and terraces on the 5th floor and roof. It does not have an elevator.

The No. 2 contract was PH8 at 212 West 18th Street, asking $15,995,000; it was listed in October. The duplex condo has 3,071 square feet including 3 bedrooms and 4 bathrooms and occupies the 20th and 21st floor of Walker Tower. A living room opens onto a 190-square-foot terrace, and a family room is off the kitchen. The unit has north and east panoramic city views. Amenities in the building include a concierge, full-time doorman, a landscaped roof terrace with a dining area, a fitness center, yoga room and sauna, a bicycle room, a children''s playroom, and a library lounge. The seller paid $12,495,000 in August 2017.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 1 1 0 1 Avg.Ask:
$5,228,333
3
Condos 3 3 0 9 Avg.Ask:
$8,283,333
Avg.$/sq.ft.:
$2,814/sq.ft.
Avg.Size:
2,944 sq.ft.
15
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 1 0 0 1 Avg.Ask:
$17,972,500
Avg.$/sq.ft.:
$2,301/sq.ft.
Avg.Size:
7,810 sq.ft.
2
TOTALS 5 4 0 11 . 20


*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 18 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 2 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 8-14, 2024
Total Weekly Asking Price Sales Volume: $175,880,000

Average Asking Price: $8,794,000

Median Asking Price: $6,600,000

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

Average Days on Market: 824









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