Fair Housing Notice

LUXURY MARKET REPORT 2021
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
October 4-10, 2021

46 Contracts Signed

Forty-six contracts were signed last week at $4 million and above, more than double the previous week’s total. It was also the biggest total since the week of April 19-25, when 56 contracts were signed (the highest total of the year). Condos outsold co-ops, 32 to 7, and 7 townhouses were in the mix.

Stat Geek Alert: Last week’s total marked the 11th time this year that 40 or more contracts were signed.

The No. 1 contract was a townhouse at 27 East 11th Street, asking $29.995 million. The seller purchased this 5-story, 25-foot-wide Greek Revival house for $26 million in July 2016. It has approximately 9,000 square feet including 7 bedrooms, 10 bathrooms, an elevator, 4 wood-burning fireplaces, 3 gas fireplaces, a large landscaped garden, 2 terraces, and a roof deck. This house has high-end finishes in the kitchen and bathrooms, floors with radiant heat, and an 18-zone central air conditioning system. Annual real estate taxes are $146,056.

The No. 2 contract was a PH1 at 455 West 19th Street, asking $22.75 million, reduced from $25 million when it was listed in November 2019. This penthouse triplex condo has 3,794 square feet including 4 bedrooms, 3 bathrooms, 2 powder rooms, and outdoor space that totals 1,301 square feet. The bottom floor has a living room with a fireplace and a 21-foot ceiling, kitchen, balcony, and master suite. The middle floor has 3 bedrooms, 2 bathrooms, and a laundry room. The top floor has a large planted terrace with a swimming pool. Amenities in this new 10-unit boutique condo include a 24-hour doorman, storage, and a bike room.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 3 3 0 1 Avg.Ask:
$6,802,143
7
Condos 3 9 4 16 Avg.Ask:
$6,903,297
Avg.$/sq.ft.:
$2,743/sq.ft.
Avg.Size:
2,526 sq.ft.
32
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 2 3 0 2 Avg.Ask:
$11,447,143
Avg.$/sq.ft.:
$1,819/sq.ft.
Avg.Size:
6,292 sq.ft.
7
TOTALS 8 15 4 19 . 46


*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 39 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW PAGE 2 OF 39 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 7 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



Source: Olshan Realty




QUICK STATS

for the week of
October 4-10, 2021
Total Weekly Asking Price Sales Volume: $350,264,490

Average Asking Price: $7,614,445

Median Asking Price: $5,650,495

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

Average Days on Market: 417









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