Fair Housing Notice

LUXURY MARKET REPORT 2021
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
October 18-24, 2021

50 Contracts Signed

Fifty contracts were signed last week at $4 million and above, 9 more than the previous week. Condos outsold co-ops, 42 to 5, and 3 townhouses were in the mix.

Stat Geek Alert I: For the third time this year, 50 or more contracts were signed. The volume of $483,647,999 is the highest weekly total of the year and the highest since the week of December 16-22, 2013, when $576,185,000 was inked on deals.

Stat Geek Alert II: Sixteen properties went to contract at $10 million and above, the largest total of trophy properties since the week of March 11-17, 2013, when 19 contracts were signed at $10 million and above.

The No. 1 contract was PHH at 443 Greenwich Street, asking $49.5 million. The condo has been on and off the market since May of 2019, when it started at $57 million. It is a triplex with 8,908 square feet including 6 bedrooms, 6 bathrooms, 2 powder rooms, a dining room, library, and rooftop entertainment room. It also has a 3,246-square-foot terrace with a plunge pool and a summer kitchen. The great room is 40-feet long with 20-foot ceilings, and there is a private interior elevator. Two private parking spaces were included in the sale. The seller purchased the unit from the sponsor in March 2017 for $43,991,455.

The No. 2 contract was 66E at 217 West 57th Street, asking $26,070,000. The 3-bedroom, 3.5-bathroom condo has 3,364 square feet and features a dramatic corner living room overlooking Central Park. The unit is in Central Park Tower, a 1,550-foot-tall skyscraper with 179 units that started marketing in 2018 as the world’s tallest residential building. Over 50,000 square feet of amenities include indoor and outdoor pools, a fitness center, a children’s playroom, and a club room on the 100th floor that includes a ballroom, bar, dining facilities, and a cigar lounge. Thirty-three units have closed since February averaging $5,062/sq.ft. with an average size of 2,931 sq.ft.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 2 3 0 0 Avg.Ask:
$8,379,800
5
Condos 16 9 6 11 Avg.Ask:
$9,416,286
Avg.$/sq.ft.:
$2,988/sq.ft.
Avg.Size:
3,152 sq.ft.
42
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 0 0 0 3 Avg.Ask:
$15,281,667
Avg.$/sq.ft.:
$2,828/sq.ft.
Avg.Size:
5,404 sq.ft.
3
TOTALS 18 12 6 14 . 50


*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 47 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW PAGE 2 OF 47 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



Source: Olshan Realty




QUICK STATS

for the week of
October 18-24, 2021
Total Weekly Asking Price Sales Volume: $483,647,999

Average Asking Price: $9,672,960

Median Asking Price: $7,087,500

Average Discount from Original Ask to Last Asking Price: 5%

Average Days on Market: 400









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