LUXURY MARKET REPORT 2020
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
February 4-10, 2019

16 Contracts Signed

Sixteen contracts were signed last week at $4 million and above, one more than the previous week, continuing the lackluster trend of the last few months. Condos outsold co-ops, 9 to 5, and 2 townhouses were in the mix. Only 4 condos were sold by developers.

Stat Geek Alert: For the first time since March 2017, the top 2 contracts were in co-ops.

The No.1 contract was 14/15A at 941 Park Avenue, asking $12.5 million, reduced from $13.5 million when it went on the market in August. The duplex has 4 bedrooms and 4.5 bathrooms. Most of the rooms face Park Avenue including a 28’ x 28’ living room, a library, and master suite with a dressing room. The unit also has an eat-in kitchen with wine storage, staff and laundry rooms. The building has a gym.

The No. 2 contract was the 9th floor at 117 East 72nd Street, asking $11.5 million, reduced from $12.5 million when it was listed in October. This 14-room co-op has 4 bedrooms, 6 bathrooms, a library, and 3 fireplaces, plus 2 staff rooms. The living room, library, and master have wood-burning fireplaces, and all of them face south onto 72nd Street. The apartment needs work.

Star Sale: The top townhouse sale was 45 West 84th Street, asking $9.75 million, reduced by $1 million when it was listed in October. The seller was actress Mariska Hargitay of Law & Order: SVU fame. This 6-story, 6,925-square-foot brownstone has an elevator and floor-to-ceiling casement windows that overlook a garden off the kitchen. The house was originally purchased for $10.7 million in July 2012.



EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 3 0 0 2 Avg.Ask:
$8,309,000
5
Condos 0 2 3 4 Avg.Ask:
$6,407,222
Avg.$/sq.ft.:
$2,529/sq.ft.
Avg.Size:
2,534 sq.ft.
9
Condop* 0 0 0 0 Avg.Ask:
0
Townhouses Avg.Ask:
$7,322,500
Avg.$/sq.ft.:
$1,203/sq.ft.
Avg.Size:
6,087 sq.ft.
2
TOTALS 4 3 3 6 16


*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 14 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 2 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


Select a Date to compare 2020 with previous years

Source: Olshan Realty




QUICK STATS

for the week of
February 4-10, 2019
Total Weekly Asking Price Sales Volume: 113,855,000

Average Asking Price: 7,115,938

Median Asking Price: 6,187,500

Average Discount from Original Ask to Last Asking Price: 8%

Average Days on Market: 383









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