LUXURY MARKET REPORT 2019


Report on Contracts Signed
Manhattan Residential Properties
$4 Million and Above
July 15-21, 2019

13 Contracts Signed

Thirteen contracts were signed last week at $4 million and above. The good news: The total exceeded each of the previous 2 weeks. The bad news: For the third straight week, not a single property went to contract at $10 million and above, a never-before-recorded stat since we started publishing this report in 2010.

The No. 1 contract was 3B at 90 Morton Street, asking $8,620,000. This new 4-bedroom, 4-bathroom unit has 2,914 square feet and features 11’7” ceilings. It is in a former printing plant that was converted into a 12-story, 28-unit condo and started offering apartments off of floorplans in the Fall of 2017. Amenities include a concierge, a covered driveway, a fitness center, a 64-foot pool, residents’ lounge, children’s playroom, and a rooftop terrace with an outdoor kitchen.

The No. 2 contract was 39A at 1 West End Avenue, asking $8 million. The unit has 3,055 square feet including 4 bedrooms, 4.5 bathrooms, and 10.5-foot ceilings. This new condo building has 35,000 square feet of amenities including a fitness center, a 75-foot pool, terraces with cabanas and an outdoor kitchen, a children’s playroom, and a garage.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 1 0 0 1 Avg.Ask:
$5,000,000
2
Condos 1 4 0 4 Avg.Ask:
$5,771,000

Avg.$/sq.ft.:
$2,184/sq.ft.

Avg.Size:
2,7642 sq.ft.
9
Condops * 0 0 0 0 Avg.Ask:


Avg.$/sq.ft.:


Avg.Size:
0
Townhouses 1 0 0 1 Avg.Ask:
$6,700,000

Avg.$/sq.ft.:
$1,579/sq.ft..

Avg.Size:
4,242 sq.ft.
2
TOTALS 3 4 0 6 13
Total Weekly Asking Price Sales Volume: $75,339,000
Average Asking Price: $5,795,308
Median Asking Price: $5,500,000
Average Discount from Original Ask to Last Asking Price: 10%
Average Days on Market: 470
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 11 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 2 CONTRACTS SIGNED ON TOWNHOUSES

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