Fair Housing Notice

OLSHAN LUXURY MARKET REPORT
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
October 7-13, 2024

28 Contracts Signed

Twenty-eight contracts were signed last week in Manhattan at $4 million and above, 2 fewer than the previous week. Condos outsold co-ops, 19-6, with 3 townhouses in the mix.

Stat Geek Alert: Thirteen of the 28 properties sold (46%) were at $10 million and above, the largest weekly total of trophy properties since December 20-26, 2021, when 13 were also signed.

The No. 1 contract was PH at 23 East 22nd Street, asking $28.5 million, reduced from $62 million when it was listed in March 2022. This triplex penthouse has 7,066 square feet including 5 bedrooms and 6.5 bathrooms and spans the top three floors of a 60-story condo called One Madison. The bottom floor has a corner great room with a double-height ceiling and is surrounded by a 586-square-foot terrace. The unit has spectacular views in all directions. It is owned by media mogul Rupert Murdoch, who bought the unit for $43,010,000 in February 2014. Amenities in the building include a doorman, concierge, fitness center, and pool.

The No. 2 contract was West PH32B at 500 West 18th Street, asking $23.6 million, raised from $23 million when the condo, then known as the XI, was first offered off floorplans in 2018; it subsequently landed in a spectacular $1 billion-plus foreclosure. The condo has 5,210 square feet including 4 bedrooms, 4.5 bathrooms, and 2 loggias, which total 422 square feet. A dramatic corner 54-foot great room, a loggia, and 3 out of 4 bedrooms overlook the Hudson River. The unit has west, north, and east exposures.

In 2021, the XI was rebranded One Highline under a new sponsor, Witkoff, who took over construction and adjusted prices. This is the 5th time this year that an apartment in the building took the No.1 or 2 spot in this report. Amenities include a fitness center, 75-foot lap pool, spa-treatment rooms, a golf simulator, children''s playroom, private dining, a games lounge, and a garage. Services are offered from the adjacent Faena Hotel, which is part of the rebranded project.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 3 1 1 1 Avg.Ask:
$8,855,833
6
Condos 2 3 2 12 Avg.Ask:
$12,305,184
Avg.$/sq.ft.:
$3,612/sq.ft.
Avg.Size:
3,407 sq.ft.
19
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 1 0 1 1 Avg.Ask:
$6,800,000
Avg.$/sq.ft.:
$1,791/sq.ft.
Avg.Size:
3,797 sq.ft.
3
TOTALS 6 4 4 14 . 28


*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 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
October 7-13, 2024
Total Weekly Asking Price Sales Volume: $307,333,500

Average Asking Price: $10,976,196

Median Asking Price: $9,750,000

Average Discount from Original Ask to Last Asking Price: 17%

Average Days on Market: 469









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

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