LUXURY MARKET REPORT 2020
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
September 10-16, 2018

13 Contracts Signed

Only 13 contracts were signed last week at $4 million and above, most likely a temporary slow down due to the Jewish New Year falling on Monday and Tuesday. The activity is consistent with last year’s results during the same holiday period, when 11 contracts were signed.

The No. 1 contract was a brownstone at 18 West 75th Street, asking $15 million, reduced from $19.5 million when it went on the market in October 2016. The house was purchased by a developer for $11.35 million in May 2015. It was then gut renovated, financed by a $14.5 million loan--and the lender ultimately took over the project and sale. The 21-foot-wide house has 8,770 square feet including 5 bedrooms, 9 bathrooms, an elevator, a garden patio off the kitchen, and a rooftop terrace.

The No. 2 contract--and the only co-op to sell last week--was 30T at 781 Fifth Avenue, asking $12.5 million. This full–floor tower unit in the Sherry Netherland Hotel sold within 2 months of listing. It was purchased for $8.9 million in April 2017. The apartment is in excellent condition, and has panoramic views of the entire city including Central Park views from the living room, library, and master. The co-op can access hotel amenities including twice-daily maid service.



EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 1 0 0 0 Avg.Ask:
$12,500,000
1
Condos 2 3 0 4 Avg.Ask:
$6,064,444
Avg.$/sq.ft.:
$2,250/sq.ft.
Avg.Size:
2,695 sq.ft.
9
Condop* 0 0 0 0 Avg.Ask:
0
Townhouses Avg.Ask:
$9,750,000
Avg.$/sq.ft.:
$1,587/sq.ft.
Avg.Size:
6,144 sq.ft.
3
TOTALS 3 4 1 5 13


*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 10 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 3 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
September 10-16, 2018
Total Weekly Asking Price Sales Volume: 96,330,000

Average Asking Price: 7,410,000

Median Asking Price: 5,300,000

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

Average Days on Market: 275









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