Nineteen contracts were signed last week at $4 million and above in Manhattan, 7 fewer than the previous week. Condos outsold co-ops, 11-6, and 2 townhouses were in the mix.
Stat Geek Alert: The decline in the number of contracts is to be expected, considering the shortened July 4th week. In fact, the 10-year average of contracts signed at $4 million and above in the July 4th week is 18 contracts.
The No. 1 contract was a townhouse at 228 West 11th Street, asking $25 million when it was listed in the middle of May. This recently renovated 4-story, 25-foot-wide house has 6,454 square feet including 6 bedrooms, 5 bathrooms, and two offices. Its outdoor space totals 2,461 square feet including a garden with a gazebo and a hot tub. The house does not have an elevator, but it does have low real estate taxes--$36,162 per annum.
The No. 2 contract was 2/3C at 740 Park Avenue, asking $13.9 million, reduced from $19.5 million when it was listed 2 years ago. This duplex co-op has 5 bedrooms, 6.5 bathrooms, 2 fireplaces, and 10’9” ceilings. The building does not allow financing, and major renovating can only be conducted between May 15 and September 15. Amenities include a doorman, fitness center, and storage.
. | EAST SIDE | WEST SIDE | MIDTOWN | DOWNTOWN | Asking $/sq.ft. | Totals |
---|---|---|---|---|---|---|
Co-ops | 2 | 2 | 0 | 2 | Avg.Ask: $8,130,833 |
6 |
Condos | 1 | 4 | 0 | 6 | Avg.Ask: $5,925,909 Avg.$/sq.ft.: $2,324/sq.ft. Avg.Size: 2,549 sq.ft. |
11 |
Condop* | 0 | 0 | 0 | 0 | Avg.Ask: Avg.$/sq.ft.: Avg.Size: |
0 |
Townhouses | 0 | 1 | 0 | 1 | Avg.Ask: $14,700,000 Avg.$/sq.ft.: $2,475/sq.ft. Avg.Size: 5,939 sq.ft. |
2 |
TOTALS | 3 | 7 | 0 | 9 | . | 19 |
CLICK HERE TO VIEW 17 CONTRACTS SIGNED ON APARTMENTS
CLICK HERE TO VIEW 2 CONTRACTS SIGNED ON TOWNHOUSES |
Donna Olshan, President |
Emily Chen, Private Wealth Real Estate Services
|
© 2025 Olshan Realty | All Rights Reserved.
This website, its content, and the Olshan Luxury Report is copyright of Olshan Realty.
QUICK STATS
for the week of
July 4-10, 2022
Total Weekly Asking Price Sales Volume: $143,369,999
Average Asking Price: $7,545,789
Median Asking Price: $6,595,000
Average Discount from Original Ask to Last Asking Price: 6%
Average Days on Market: 358