Fair Housing Notice

OLSHAN LUXURY MARKET REPORT
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
July 22-28, 2024

23 Contracts Signed

Twenty-three contracts were signed last week in Manhattan at $4 million and above, three more than the previous week. Condos outsold co-ops, 16-3, with 1 condop and 3 townhouses in the mix.

Stat Geek Alert: The last 4 weeks registered 85 contracts at $4 million and above compared to 88 contracts last year. The 10-year average for the same July period is 78 contracts.

The No. 1 contract was 50 at 111 West 57th Street, asking $26,950,000, reduced from $29,500,000 when this condo building started marketing off of floorplans in 2016. The duplex has 4,492 square feet including 3 bedrooms and 3.5 bathrooms. It features a 50-foot great room with a 14-foot ceiling and spectacular Central Park views. Upstairs is a loggia—a covered outdoor space comprising 1,798 square feet and showcasing Central Park views.

111 West 57th Street is a 60-unit, 82-story building that rises 1,428 feet on the former site of the Steinway & Sons piano store. Amenities include a concierge, a fitness center, 82-foot pool, lounge, terrace, and a private dining room, plus a covered driveway entrance. Thirty-four units, averaging $4,151/sq.ft, have closed so far.

The No. 2 contract was the 12th floor at 133 East 80th Street asking $10.995,000; it was listed in March. The 11-room, prewar-penthouse co-op has 5 bedrooms, 5 bathrooms, and 2 woodburning fireplaces. A living room with a fireplace and a formal dining room open onto a 9’ x 38’ terrace. The eat-in kitchen and 2 other bedrooms open onto planting terraces. The penthouse needs to be renovated. The 19-unit building has a doorman and allows 50% financing.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 1 0 0 2 Avg.Ask:
$6,813,333
3
Condos 1 6 2 7 Avg.Ask:
$7,038,438
Avg.$/sq.ft.:
$2,866/sq.ft.
Avg.Size:
2,455 sq.ft.
16
Condop* 0 1 0 0 Avg.Ask:
$5,995,000
Avg.$/sq.ft.:
$1,363/sq.ft.
Avg.Size:
4,400 sq.ft.
1
Townhouses 1 0 1 1 Avg.Ask:
$6,140,000
Avg.$/sq.ft.:
$1,652/sq.ft.
Avg.Size:
3,717 sq.ft.
3
TOTALS 3 7 3 10 . 23


*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 20 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 3 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 22-28, 2024
Total Weekly Asking Price Sales Volume: $157,470,000

Average Asking Price: $6,846,522

Median Asking Price: $5,995,000

Average Discount from Original Ask to Last Asking Price: 6%

Average Days on Market: 567









© 2024 Olshan Realty, Inc. | All Rights Reserved. | Established 1980
641 Lexington Avenue, Suite 2200, New York, NY 10022 | 212-751-3300 | Privacy Policy

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