Fair Housing Notice

OLSHAN LUXURY MARKET REPORT
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
February 3-9, 2025

29 Contracts Signed

Twenty-nine contracts were signed last week in Manhattan at $4 million and above, 7 more than the previous week. Condos outsold co-ops, 23-6.

Stat Geek Alert: The luxury market is riding an impressive streak. Check out the number of sales in the last 3 weeks: 14, 22, 29. How long can it continue?

The No. 1 contract was PHW at 25 Bond Street, asking $39.5 million; it was listed in mid-December. This duplex penthouse condo has 6,358 square feet including 4 bedrooms, 3 bathrooms, library, media room, 2 powder rooms, 4 fireplaces, and 2 terraces totaling 2,450 square feet, plus 2 deeded parking spots. The ground floor has a 43-foot great room with a fireplace that opens onto a 43-foot terrace. The second floor has the primary suite with a sitting room and 3 other bedrooms. Above the second floor is a rooftop terrace with an outdoor kitchen and a giant hot tub. The seller purchased the unit for $24,611,000 in October 2021 and then undertook a multi-year renovation. Amenities in this 8-story, 9-unit building include a doorman, gym, and garage. Monthly common charges and taxes total $32,487.

The No. 2 contract was the 49th floor at 111 West 57th Street, asking $24.25 million, reduced from $29.25 million when it was listed off floorplans in June 2016. The condo has 4,492 square feet including 3 bedrooms and 3.5 bathrooms with a 50-foot great room and a 14-foot ceiling overlooking Central Park. The building has 60 units and 82 stories rising 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-seven units, averaging $4,215/sq.ft., have closed so far.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 4 1 0 1 Avg.Ask:
$5,448,333
6
Condos 1 8 3 11 Avg.Ask:
$9,820,870
Avg.$/sq.ft.:
$3,427/sq.ft.
Avg.Size:
3,139 sq.ft.
23
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
TOTALS 5 9 3 12 . 29


*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 29 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW PAGE 2 OF 29 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 0 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

© 2025 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
February 3-9, 2025
Total Weekly Asking Price Sales Volume: $258,570,000

Average Asking Price: $8,916,207

Median Asking Price: $6,295,000

Average Discount from Original Ask to Last Asking Price: 5%

Average Days on Market: 757









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