LUXURY MARKET REPORT 2020
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
November 19-25, 2018

12 Contracts Signed

Twelve contracts were signed last week at $4 million and above, a typically low total for a Thanksgiving Day week.

Stat Geek Alert: The lowest total for a Thanksgiving Day week since 2006 when we started keeping track? One. You read that right—one contract was signed. The year was 2008—2 months after the Lehman crash.

The No.1 contract was 9S at 70 Vestry Street, asking $23.5 million, raised from $21 million when it was offered off of floorplans in April 2016. The unit has 4,355 square feet including 4 bedrooms and 4.5 bathrooms, plus 2 terraces totaling 522 square feet. 70 Vestry is a 14-story, 46-unit condo that was designed by Robert A.M. Stern with interiors by Daniel Romualdez. Amenities include a doorman, concierge, garage, a fitness center, squash court, and 3 pools: an 82-foot lap pool, a separate children’s pool, and a hot-and-cold plunge pool. There is also a library, billiards room, and children’s playroom. Nineteen units have closed so far, averaging $3,908/square foot and 3,664 square feet.

The No. 2 contract was M9C at 7 Hubert Street, asking $8.75 million, reduced from $9.25 million when it went on the market in April. This maisonette triplex condo has 4,633 square feet including 3 bedrooms and 3.5 bathrooms, plus its own private entrance on Collister Street. Amenities include a gym, concierge, and children’s playroom. The owner of M9C paid $4.950 million for the unit in 2007.



EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 0 0 0 3 Avg.Ask:
$4,756,667
3
Condos 0 2 1 4 Avg.Ask:
$9,047,143
Avg.$/sq.ft.:
$2,955/sq.ft.
Avg.Size:
3,061 sq.ft.
7
Condop* 0 0 0 1 Avg.Ask:
$8,300,000
0
Townhouses Avg.Ask:
$5,300,000
Avg.$/sq.ft.:
$1,303/sq.ft.
Avg.Size:
4,066 sq.ft.
1
TOTALS 1 2 1 8 12


*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 11 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 1 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
November 19-25, 2018
Total Weekly Asking Price Sales Volume: 88,445,000

Average Asking Price: 7,370,417

Median Asking Price: 5,147,500

Average Discount from Original Ask to Last Asking Price: 6%

Average Days on Market: 353









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