Fair Housing Notice

OLSHAN LUXURY MARKET REPORT
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
August 19-25, 2024

18 Contracts Signed

Eighteen contracts were signed last week in Manhattan at $4 million and above, two fewer than the previous week. Condos outsold co-ops, 10-6, with 2 townhouses in the mix.

Stat Geek Alert: The last 4 weeks of signed contracts have outperformed the same period last summer, 73 vs. 60 in 2023, a total on track for the 3rd best August in the last decade.

The No. 1 contract was 39B at 217 West 57th Street, which was signed last Monday and reportedly closed the next day for $43,500,000. It was originally listed at $75,000,000 when the building was marketed off floorplans in 2018. The condo has 7,587 square feet including 5 bedrooms, 5 bathrooms, and 2 powder rooms. A 35-foot living room, 30-foot dining room, and kitchen all face Central Park, while a breakfast room, family room, and library open onto a 1,956-square foot terrace.

The unit is in Central Park Tower, a 1,550-foot-tall skyscraper with 179 units and over 50,000 square feet of amenities including indoor and outdoor pools, a fitness center, and a children’s playroom, plus a ballroom, bar, dining facilities, and a cigar lounge.

The No. 2 contract was a townhouse at 12 East 79th Street, asking $36 million, reduced from $38 million when it was listed in May 2023. It was in contract in December, but the deal fell through, and the house went back on the market in February. The 28-foot-wide townhouse has 16,000 square feet and has been owned by the School of Practical Philosophy since 1975. The house has some original details and 12 bedrooms that serve as classrooms.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 3 2 0 1 Avg.Ask:
$11,589,167
6
Condos 0 2 2 6 Avg.Ask:
$16,065,000
Avg.$/sq.ft.:
$4,952/sq.ft.
Avg.Size:
3,244 sq.ft.
10
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 1 0 0 1 Avg.Ask:
$24,425,000
Avg.$/sq.ft.:
$1,962/sq.ft.
Avg.Size:
12,450 sq.ft.
2
TOTALS 4 4 2 8 . 18


*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 16 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

© 2024 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
August 19-25, 2024
Total Weekly Asking Price Sales Volume: $263,535,000

Average Asking Price: $14,640,833

Median Asking Price: $7,512,500

Average Discount from Original Ask to Last Asking Price: 19%

Average Days on Market: 803









© 2024 Olshan Realty, Inc. | All Rights Reserved. | Established 1980
641 Lexington Avenue, Suite 2200, New York, NY 10022 | 212-751-3300 | Privacy Policy

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