LUXURY MARKET REPORT 2019


Report on Contracts Signed
Manhattan Residential Properties
$4 Million and Above
August 26-September 1, 2019

16 Contracts Signed

Sixteen contracts were signed last week at $4 million and above, a standard-issue total for the week leading into Labor Day. The top 2 signed contracts were sponsor/developer sales in new condo buildings, both designed by Pritzker Prize-winners and both started marketing in 2013.

The No. 1 contract was PH40 at 50 United Nations Plaza, asking $18.25 million, and developed by Zeckendorf. The condo has 5,893 square feet including 5 bedrooms, 2 staff rooms, and 6.5 bathrooms. A living room, dining room, and library span 63 feet and overlook the East River. The building, designed by Foster+ Partners, has a concierge, fitness center, 75-foot swimming pool, a garage, children’s playroom, and storage.

The No. 2 contract was 43C at 157 West 57th Street, asking $17.5 million, reduced from $19 million, and developed by Extell. The unit has 3,466 square feet including 4 bedrooms and 4.5 bathrooms, and features expansive views of Central Park. The condo building was designed by architect Christian de Portzamparc, with interiors by Thomas Juul-Hansen. The 90-story, 90-unit condo was built above the 5-star Park Hyatt Hotel that has a separate entrance for its 210 rooms. Amenities include a fitness center, pool, private dining, a library lounge, a performance space, and a garage.



East West Midtown Downtown Asking $/sq.ft. Totals
Co-ops 1 0 0 1 Avg.Ask:
$6,996,500
2
Condos 2 2 2 7 Avg.Ask:
$7,569,615

Avg.$/sq.ft.:
$2,553/sq.ft.

Avg.Size:
2,965 sq.ft.
13
Condops * 0 0 0 1 Avg.Ask:
$5,995,000

Avg.$/sq.ft.:
$2,535/sq.ft.

Avg.Size:
2,365 sq.ft.
1
Townhouses 0 0 0 0 Avg.Ask:


Avg.$/sq.ft.:
.

Avg.Size:
0
TOTALS 3 2 2 9 16
Total Weekly Asking Price Sales Volume: $118,393,000
Average Asking Price: $7,399,563
Median Asking Price: $5,877,500
Average Discount from Original Ask to Last Asking Price: 8%
Average Days on Market: 749
*Condop is a co-op with condo rules.

CLICK HERE TO VIEW 16 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 0 CONTRACTS SIGNED ON TOWNHOUSES

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