OLSHAN LUXURY MARKET REPORT
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
May 13-19, 2024

30 Contracts Signed

Thirty contracts were signed last week in Manhattan at $4 million and above, 2 fewer than the previous week. Condos clobbered co-ops, 23-4, and 3 townhouses were in the mix.

Sponsor sales comprised 13 out of the 23 condo deals.

The No. 1 contract was West 27A at 500 West 18th Street, asking $17,915,000, raised from $15,500,000 when the condo, then known as the XI, was first offered off of floorplans in 2018; it subsequently landed in a spectacular $1 billion-plus foreclosure. The unit has 3,474 square feet including 4 bedrooms and 4.5 bathrooms. A 34-foot great room, 20-foot master suite, and another bedroom overlook the Hudson River.

By 2021, the XI was rebranded as One Highline under a new sponsor, Witkoff, who took over construction and adjusted prices. 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.

The No. 2 contract was 5B at 30 Crosby Street, asking $10,950,000, reduced from $11,250,000 when it was listed in April 2023. The condo has 12-foot ceilings and 4,164 square feet including 3 bedrooms, a library, screening room, and 3 bathrooms. It is in a 13-unit loft building with a 24-hour doorman and a fulltime superintendent. The seller paid $8,225,000 in 2014.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 2 0 0 2 Avg.Ask:
$6,710,000
4
Condos 4 1 6 12 Avg.Ask:
$7,247,826
Avg.$/sq.ft.:
$2,632/sq.ft.
Avg.Size:
2,754 sq.ft.
23
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 1 1 0 1 Avg.Ask:
$4,783,333
Avg.$/sq.ft.:
$1,578/sq.ft.
Avg.Size:
3,031 sq.ft.
3
TOTALS 7 2 6 15 . 30


*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 27 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW PAGE 2 OF 27 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

Donna Olshan
President
dso@olshan.com
Emily Chen
Private Wealth Real Estate Services
Chief of Research
ecc@olshan.com