Fair Housing Notice

LUXURY MARKET REPORT 2022
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
March 14-20, 2022

35 Contracts Signed

Thirty-five contracts were signed last week at $4 million and above, 6 fewer than the previous week, whose total was a 2022 record. Condos outsold co-ops, 26-5, with 3 townhouses and 1 condop in the mix.

The No. 1 contract was PHW at 67 Franklin Street, asking $14.95 million; it started on the market in July 2019. This 4,568-square-foot penthouse duplex condo was built on top of an 1881 cast iron building. It has 4 bedrooms, 5 bathrooms and a den, plus 4 terraces totaling 1,374 square feet. A dramatic, 43-foot great room with 20-foot ceilings features sliding glass doors that open onto 2 of the terraces. This 13-unit condo, known as Cast Iron House, was designed by Pritzker Prize-winning architect Shigeru Ban. Amenities include a doorman, gym, and children’s playroom.

The No. 2 contract was 12A at 720 Park Avenue, asking $14 million; it has been on and off the market since April 2017, starting at $28 million. This prewar co-op has 3 bedrooms and 5.5 bathrooms. A living room, dining room, library, and master bedroom span 92 feet overlooking Park Avenue. The entertaining space has 13.5-foot ceilings. The unit comes with storage and a wine vault. Amenities in this 17-story, 29-unit co-op also include a doorman, fitness center, and a squash court.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 4 0 0 1 Avg.Ask:
$6,651,000
5
Condos 4 7 0 15 Avg.Ask:
$6,759,769
Avg.$/sq.ft.:
$2,599/sq.ft.
Avg.Size:
2,601 sq.ft.
26
Condop* 0 0 0 1 Avg.Ask:
$6,950,000
Avg.$/sq.ft.:
$2,190/sq.ft.
Avg.Size:
3,174 sq.ft.
1
Townhouses 0 0 0 3 Avg.Ask:
$6,498,133
Avg.$/sq.ft.:
$1,804/sq.ft.
Avg.Size:
3,603 sq.ft.
3
TOTALS 8 7 0 20 . 35


*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 32 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW PAGE 2 OF 32 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

© 2024 Olshan Realty | All Rights Reserved.
This website, its content, and the Olshan Luxury Report is copyright of Olshan Realty.



Source: Olshan Realty




QUICK STATS

for the week of
March 14-20, 2022
Total Weekly Asking Price Sales Volume: $235,453,975

Average Asking Price: $6,727,256

Median Asking Price: $5,995,000

Average Discount from Original Ask to Last Asking Price: 4%

Average Days on Market: 653









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This website, its content, and the Olshan Luxury Report is copyright of Olshan Realty.

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