Fair Housing Notice

LUXURY MARKET REPORT 2022
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
May 30-June 5, 2022

28 Contracts Signed

Twenty-eight contracts were signed last week in Manhattan at $4 million and above, 7 more than the previous week, snapping a three-week decline in sales. The turnaround total is even sweeter when you consider it was realized in a Memorial Day-shortened week. Condos outsold co-ops, 20-4, and 4 townhouses were in the mix.

For the second time this year, the No. 1 slot went to a unit at 109 East 79th Street. This time it was 6W, asking $16.85 million. The condo has 4,140 square feet including 5 bedrooms and 5.5 bathrooms and features a 32-foot living room with ceiling heights of 17-6’. It is in a new 20-story, 31-unit condo designed by Steven Harris Architects; completion is expected by the fourth quarter of this year. Amenities include doormen, a regulation-size squash court that converts to a basketball court, a gym, golf simulator, game room, and a spa treatment center. Twenty-seven of the 31 units have sold with asking prices averaging $4,035/sq.ft.

The No. 2 contract was unit 1015 at 225 West 86th Street, asking $11.15 million. This prewar condo has 4,124 square feet including 4 bedrooms, 4.5 bathrooms, and a library. It also features a 31-foot living room and an eat-in kitchen with Molteni cabinets. The master bedroom overlooks the gardens. The building is called the Belnord, a rental turned condo with the renovation designed by Robert A.M.Stern. Amenities include a doorman, fitness center, children’s playroom, and lounge.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 2 1 0 1 Avg.Ask:
$4,637,500
4
Condos 1 6 3 10 Avg.Ask:
$7,188,105
Avg.$/sq.ft.:
$2,725/sq.ft
Avg.Size:
2,638 sqft
20
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 1 0 1 2 Avg.Ask:
$7,008,750
Avg.$/sq.ft.:
$1,846/sq.ft.
Avg.Size:
3,798 sq.ft.
4
TOTALS 4 7 4 13 . 28


*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 24 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 4 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 30-June 5, 2022
Total Weekly Asking Price Sales Volume: $190,409,000

Average Asking Price: $6,800,321

Median Asking Price: $6,130,000

Average Discount from Original Ask to Last Asking Price: 3%

Average Days on Market: 347









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