Fair Housing Notice

OLSHAN LUXURY MARKET REPORT
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
November 4-10, 2024

39 Contracts Signed

Thirty-nine contracts were signed last week in Manhattan at $4 million and above, 13 more than the previous week. Condos outsold co-ops, 23-14, with 2 townhouses in the mix. It was the largest weekly total since March 11-17 when 40 contracts were signed.

Stat Geek Alert: The 14 co-op contracts represent the largest total since November 15-21, 2021, when 16 co-op contracts were signed. As it happens, weekly totals of 10 or more co-op contracts have occurred only 13 times over the last 3 years.

The No. 1 contract was PHB at 247 West 12th Street, asking $15,995,000, reduced from $17,950,000 when it was listed at the end of April. The seller paid $14,995,000 in July 2016 and then renovated. This triplex co-op penthouse has 4,163 square feet including 4 bedrooms, 3.5 bathrooms, 10-foot ceilings, and 7 zones of central air conditioning. It comes with 2 deeded parking spots. The bedrooms are on the lower floor with entertaining space on the upper level. The top floor features a landscaped, rooftop terrace of more than 1000 square feet with an outdoor kitchen. The apartment is in the Greenwich House, a 6-story, 24-unit building with a doorman and superintendent.

The No. 2 contract was 11 Bank Street, asking $15 million, reduced from $21 million when it was listed in January. This 24-foot-wide, 5-story Greek revival townhouse has been owned by the same family for 60 years. It has been divided into 4 rental apartments and has a 24’ x 18’ garden. Annual real estate taxes total $79,052.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 5 4 1 4 Avg.Ask:
$6,337,071
14
Condos 3 4 3 13 Avg.Ask:
$6,245,000
Avg.$/sq.ft.:
$2,685/sq.ft.
Avg.Size:
2,326 sq.ft.
23
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 0 1 0 1 Avg.Ask:
$14,250,000
Avg.$/sq.ft.:
$2,209/sq.ft.
Avg.Size:
6,450 sq.ft.
2
TOTALS 8 9 4 18 . 39


*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 37 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
November 4-10, 2024
Total Weekly Asking Price Sales Volume: $260,854,000

Average Asking Price: $6,688,564

Median Asking Price: $6,225,000

Average Discount from Original Ask to Last Asking Price: 9%

Average Days on Market: 625









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