Fair Housing Notice

LUXURY MARKET REPORT 2022
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
November 7-13, 2022

24 Contracts Signed

Twenty-four contracts were signed last week at $4 million and above, 10 more than the previous week, while volume more than doubled to $219,070,990. Condos outsold co-ops, 14-6, and 4 townhouses were in the mix.

Stat Geek Alert: Fueling the robust rebound were 7 properties that cracked $10 million, the largest number of trophy properties to sell since the week of May 9.

The No. 1 contract was a house at 464 Greenwich Street, asking $29.9 million; it was listed a year ago. It is a former 1892 coffee-roasting plant transformed into a single-family house by fashion mogul Mickey Drexler, who purchased the building for $5.5 million in 2008. He then commissioned famed French architect Thierry Despont to oversee the renovation. The façade of the 24-foot-wide red brick house has retained the coffee company’s original sign, which is etched above the front door, and the home has 9,000 square feet including 5 bedrooms, 6 bathrooms, and 2 powder rooms. It has a 1,500-square-foot living room, gym, sauna, a large rooftop terrace, and a commercial-sized elevator.

The No. 2 contract was 113 East 90th Street, asking $27 million; it was listed at the end of September. It is a former firehouse with a landscaped garden and a separate carriage house in the back. The 4-story, 25-foot-wide house has 5,625 square feet including 4 bedrooms, 4 bathrooms, and 2 powder rooms. It also has 3 fireplaces, a 3000-bottle wine cellar, and a double-height ceiling in the entrance, but it does not have an elevator. The seller purchased the house for $9,875,000 in 2011 and then renovated it.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 4 0 0 2 Avg.Ask:
$5,249,167
6
Condos 1 0 4 9 Avg.Ask:
$8,191,142
Avg.$/sq.ft.:
$2,771/sq.ft.
Avg.Size:
2,956 sq.ft.
14
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 2 1 0 1 Avg.Ask:
$18,225,000
Avg.$/sq.ft.:
$2,601/sq.ft.
Avg.Size:
7,008 sq.ft.
4
TOTALS 7 1 4 12 . 24


*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 20 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

© 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
November 7-13, 2022
Total Weekly Asking Price Sales Volume: $219,070,990

Average Asking Price: $9,127,958

Median Asking Price: $5,977,995

Average Discount from Original Ask to Last Asking Price: 9%

Average Days on Market: 668









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

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