Fair Housing Notice

LUXURY MARKET REPORT 2021
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
April 26-May 2, 2021

41 Contracts Signed

Forty-one contracts were signed last week at $4 million and above, extending the remarkable streak of 30 or more signed contracts to 13 weeks in a row.

Stat Geek Alert I: Last week marked the fourth week in a row of 40 or more contracts signed at $4 million and above, an unprecedented streak since we started keeping track in 2006.

Stat Geek Alert II: And get this: During the same week in 2020, only 1 contract was signed. Yep, you read that right!

For the second week in a row, the No. 1 contract is a penthouse at 30 Park Place, this time it was PH78B, asking $25 million, reduced from $29.5 million when the sponsor, Silverstein Properties, started marketing the building in 2014. The condo is one of the last sponsor units: a duplex with 5,937 square feet including 5 bedrooms, 6.5 bathrooms, and a large eat-in kitchen. A living room and formal dining room open onto a loggia totaling 434 square feet. The unit has panoramic views of the city and the Hudson River. 30 Park Place is an 80-story limestone building designed by Robert A.M. Stern; it has a Four Seasons Hotel on the bottom and above it are 22 floors with 157 condos. Amenities include a fitness center, 75-foot swimming pool, children’s playroom, and a private dining room.

The No. 2 contract was PH11A at 150 East 78th Street, asking $20 million. The duplex penthouse has 4,593 square feet including 5 bedrooms and 5.5 bathrooms. A 23’ x 26’ living room with a fireplace is flanked by north and south terraces that total 594 square feet. The terraces can also be accessed from the formal dining room and the 5th bedroom/library. Upstairs are 4 bedrooms with en-suite bathrooms and a large laundry room. 150 East 78th Street is a new 25-unit limestone building designed by architect Robert A.M. Stern and developed by Midwood Investment & Development and EJS Group. Amenities include a fitness center, golf simulator, regulation squash court, rooftop terrace, lounge, and children’s playroom. The buyer of the penthouse is from the West Coast.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 4 1 1 2 Avg.Ask:
$7,518,124
8
Condos 3 7 1 18 Avg.Ask:
$10,075,138
Avg.$/sq.ft.:
$3,105/sq.ft.
Avg.Size:
3,245 sq.ft.
29
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 1 3 0 0 Avg.Ask:
$9,432,250
Avg.$/sq.ft.:
$1,331/sq.ft.
Avg.Size:
`7,085 sq.ft.
4
TOTALS 8 11 2 20 . 41


*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 37 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW PAGE 2 OF 37 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



Source: Olshan Realty




QUICK STATS

for the week of
April 26-May 2, 2021
Total Weekly Asking Price Sales Volume: $390,052,995

Average Asking Price: $9,513,488

Median Asking Price: $8,999,000

Average Discount from Original Ask to Last Asking Price: 9%

Average Days on Market: 487









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