Fair Housing Notice

LUXURY MARKET REPORT 2022
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
May 9-15, 2022

39 Contracts Signed

Thirty-nine contracts were signed last week at $4 million and above in Manhattan, 4 fewer than the previous week, which happened to register the highest total of the year. Condos outsold co-ops, 24-9, and 6 townhouses were in the mix.

Stat Geek Alert: Most of the action occurred on the lower end of the luxury market, as 20 deals were inked under $5 million. The median asking price of $4,995,000 was the lowest since December 14-20, 2020.

The No. 1 contract was PHA at 100 Eleventh Avenue, asking $22.5 million, reduced from $25 million when it was listed in October. The seller paid $19,397,663 in March 2010. The penthouse has 4,675 square feet with 14-foot ceilings showcasing spectacular views of the Hudson River. It has 3 bedrooms, 3.5 bathrooms, and a roof terrace with an outdoor kitchen spanning over 3,700 square feet. This curve-shaped building, designed by Pritzker-prize winning architect Jean Nouvel, is distinctive for its façade that is comprised of 1,650 different sized panes of glass. Amenities in the 57-unit condo include a doorman, concierge, fitness center, and a 70-foot lap pool.

The No. 2 contract was a townhouse at 114 East 65th Street, asking 17.5 million. It has been on and off the market since February 2019, when it listed at $19.995 million. The seller is Diandra Douglas, the ex-wife of actor Michael Douglas, who purchased the house for $15.52 million in May 2007. It has 8,000 square feet including 5 bedrooms, 5.5 bathrooms, 8 fireplaces, and an elevator. Annual property taxes are $123,137.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 4 2 0 3 Avg.Ask:
$6,201,667
9
Condos 1 7 0 16 Avg.Ask:
$7,109,792
Avg.$/sq.ft.:
$2,672/sq.ft.
Avg.Size:
2,661 sq.ft.
24
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 1 3 1 1 Avg.Ask:
$7,530,000
Avg.$/sq.ft.:
$1,498/sq.ft.
Avg.Size:
5,028 sq.ft.
6
TOTALS 6 12 1 20 . 39


*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 33 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW PAGE 2 OF 33 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 6 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



Source: Olshan Realty




QUICK STATS

for the week of
May 9-15, 2022
Total Weekly Asking Price Sales Volume: $271,630,000

Average Asking Price: $6,964,872

Median Asking Price: $4,995,000

Average Discount from Original Ask to Last Asking Price: 7%

Average Days on Market: 567









OLSHAN REALTY, INC. | Established 1980
641 Lexington Avenue, Suite 2200, New York, NY 10022 | 212-751-3300 | Privacy Policy

. . . .