Fair Housing Notice

OLSHAN LUXURY MARKET REPORT
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
February 24-March 2, 2024

32 Contracts Signed

Thirty-two contracts were signed last week in Manhattan at $4 million and above, 15 more than the previous week. Condos outsold co-ops, 19-9, with 4 townhouses in the mix.

Stat Geek Alert: Only 2 contracts out of the 32 were at $10 million and above. It’s rare to have so many contracts signed with so few trophy properties in the mix.

The No. 1 contract was a townhouse at 127 East 73rd Street, asking $28 million, reduced from $36 million when it was listed last April. The 22-foot-wide, 6-story brick-and-limestone house was built by architect Stanford White in 1904; it’s approximately 10,000 square feet with 6 bedrooms, 5 bathrooms, and 2 powder rooms. The 5th floor features a basketball court, media room, and office. Annual real estate taxes total $223,901. The seller paid $32.5 million in July 2008.

The No. 2 contract was PHN at 212 West 72nd Street, asking $19.15 million; it was sold by a sponsor who started marketing the building at the end of 2020. The penthouse has 4,683 square feet including 5 bedrooms, 5.5 bathrooms, and a library. The apartment features a double-height foyer and a balcony off the primary bedroom. An upstairs roof terrace totaling 1,184 square feet has an outdoor kitchen and hot tub. Monthly common charges and taxes total $18,942. Amenities include a resident manager, doormen, fitness center, children’s playroom, resident’s roof terrace, bike and regular storage.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 4 2 0 3 Avg.Ask:
$5,876,667
9
Condos 4 7 0 8 Avg.Ask:
$7,024,274
Avg.$/sq.ft.:
$2,566/sq.ft.
Avg.Size:
2,737 sq.ft.
19
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 1 1 1 1 Avg.Ask:
$11,562,500
Avg.$/sq.ft.:
$1,871/sq.ft.
Avg.Size:
6,181 sq.ft.
4
TOTALS 9 10 1 12 . 32


*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 28 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW PAGE 2 OF 28 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 4 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 24-March 2, 2024
Total Weekly Asking Price Sales Volume: $232,601,200

Average Asking Price: $7,268,788

Median Asking Price: $6,110,000

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

Average Days on Market: 636









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