Fair Housing Notice

OLSHAN LUXURY MARKET REPORT
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
March 10-16, 2025

36 Contracts Signed

Thirty-six contracts were signed last week in Manhattan at $4 million and above, one more than the previous week. Condos outsold co-ops, 27-5, with 4 townhouses in the mix. The last 3 weeks have registered strong luxury sales with 103 deals totaling over $800 million.

Stat Geek Alert: Eleven properties sold at $10 million and above, the largest number of trophy deals since the week of December 9-15, 2024, when 11 such contracts were also signed.

The No. 1 contract was the 6th floor at 838 Fifth Avenue, asking 24.5 million; it had been on and off the market since 2018, starting as high as $42 million. The prewar condo has 5,427 square feet including 3 bedrooms, 5.5 bathroom, and 3 fireplaces. The living room and formal dining room span 44 feet and overlook Central Park. The unit needs to be renovated. It was sold with 2 storage bins and a studio apartment off the lobby of the building. Amenities include a doorman and a gym. The Wall Street Journal previously reported that the seller purchased the unit from the sponsor for $10.818 million in 2000. 838 Fifth is one of only 6 condo buildings on Fifth Avenue between 60th and 96th Street. The rest of Fifth Avenue are co-ops and a handful of rentals.

The No. 2 and 3 contracts were in 111 West 57th Street and very close in price: Unit 70, asking $20.75 million, reduced from $30.5 million, and Unit 69, asking $20.5 million, reduced from $30.25 million; they were both offered off floorplans in June 2016. They were sold to separate buyers. Both units have 3,873 square feet including 3 bedrooms, 3.5 bathrooms, and 50-foot great rooms, which feature 14-foot ceilings and spectacular Central Park views. 111 West 57th Street is a 60-unit, 82-story building that rises 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-nine units, averaging $4,154/sq.ft., have closed so far.

A New Record: Last week, an off market sale of 9A at 150 Charles Street closed for $60 million, setting a record-breaking price for a Downtown condo. It is a duplex with 5,840 square feet including 5 bedrooms, 5.5 bathrooms and 2 terraces totaling 3,207 square feet. The unit has views of the Hudson River and was purchased from the sponsor in March 2016 for $29,089,610.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 2 2 0 1 Avg.Ask:
$8,478,000
5
Condos 2 3 3 19 Avg.Ask:
$8,598,185
Avg.$/sq.ft.:
$2,753/sq.ft.
Avg.Size:
3,069 sq.ft.
27
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 1 1 0 2 Avg.Ask:
$9,692,500
Avg.$/sq.ft.:
$1,686/sq.ft.
Avg.Size:
5,748 sq.ft.
4
TOTALS 5 6 3 22 . 36


*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 32 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW PAGE 2 OF 32 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
March 10-16, 2025
Total Weekly Asking Price Sales Volume: $323,030,990

Average Asking Price: $8,973,083

Median Asking Price: $6,462,500

Average Discount from Original Ask to Last Asking Price: 14%

Average Days on Market: 1026









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