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

15 Contracts Signed

Fifteen contracts were signed last week at $4 million and above, a slip below the benchmark 20+ totals that were recorded in the previous 3 weeks. Condos outsold co-ops, 10 to 5.

The No.1 contract was 40A at 2 Park Place, asking $21.325 million. This 6,095-square-foot condo includes 4 bedrooms, 2 powder rooms, a 52-foot great room, dining room, and an eat-in kitchen. The ceilings are 14.5-feet high, and the views are in all directions. The condo is in the historic Woolworth Building, which converted the top floors into 33 units. The building was listed in 2014-2015 and then pulled off the market to redesign the interiors. It went back on the market in 2017. Amenities include a concierge, fitness center, pool, wine room, and a garage.

The No. 2 contract was 2E at 960 Park Avenue, asking $14.5 million. The co-op has 12 rooms including 6 bedrooms, a library, 6.5 bathrooms, and 2 working fireplaces. The unit is in excellent condition and wraps the corner of 82nd and Park. It was purchased in 2005 for $10 million. The building has a doorman and gym but only allows 25% mortgage financing.



EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 3 1 0 1 Avg.Ask:
$7,488,000
5
Condos 2 1 1 6 Avg.Ask:
$8,082,700
Avg.$/sq.ft.:
$2,496/sq.ft.
Avg.Size:
3,237 sq.ft.
10
Condop* 0 0 0 0 Avg.Ask:
0
Townhouses Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
TOTALS 5 2 1 7 15


*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 15 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 0 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


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QUICK STATS

for the week of
March 4-10, 2019
Total Weekly Asking Price Sales Volume: 118,267,000

Average Asking Price: 7,884,467

Median Asking Price: 5,495,000

Average Discount from Original Ask to Last Asking Price: 13%

Average Days on Market: 576









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