Fair Housing Notice

LUXURY MARKET REPORT 2022
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
May 2-8, 2022

43 Contracts Signed

Forty-three contracts were signed last week at $4 million and above in Manhattan, four more than the previous week. That was the largest weekly total since the middle of December 2021, when 54 deals were inked. Condos crushed co-ops, 33 to 4, and 6 townhouses were in the mix.

Stat Geek Alert: Despite the large number of contracts, not one deal was at $10 million and above, the first time that has happened since the week of September 28, 2020.

The No. 1 contract was a tie between 2 condos, both asking $9.25 million: PH31C at 15 West 61st Street and 5W at 601 Washington Street. PH31C has 2,216 square feet with 3 bedrooms, 3.5 bathrooms, and a library. The living room opens onto a 145-square-foot loggia. It is a sponsor sale in the Park Loggia. Amenities include a doorman, fitness center, children’s playroom, resident lounge, and outdoor gardens and terraces.

Apartment 5W at 601 Washington Street has 2,892 square feet including 3 bedrooms and 3.5 bathrooms. The unit features a balcony off the master bedroom. The building is a new 10-unit condominium designed by BKSK Architects with a doorman, fitness center, roof terrace, and storage.

The No. 2 contract was a townhouse at 281 West 4th Street, asking $9.1 million. The seller paid $9.55 million in March 2013. This 17-foot-wide, 3-story house has 2,040 square feet with 3 bedrooms and 2.5 bathrooms. It also features landscaped terraces on the ground floor and on the roof.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 3 0 0 1 Avg.Ask:
$5,937,500
4
Condos 2 5 0 26 Avg.Ask:
$6,046,212
Avg.$/sq.ft.:
$2,535/sq.ft.
Avg.Size:
2,385 sq.ft.
33
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 2 1 0 3 Avg.Ask:
$7,616,667
Avg.$/sq.ft.:
$1,605/sq.ft.
Avg.Size:
4,746 sq.ft.
6
TOTALS 7 6 0 30 . 43


*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 37 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW PAGE 2 OF 37 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 6 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
May 2-8, 2022
Total Weekly Asking Price Sales Volume: $268,975,000

Average Asking Price: $6,255,233

Median Asking Price: $5,800,000

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

Average Days on Market: 766









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