Fair Housing Notice

OLSHAN LUXURY MARKET REPORT
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
March 6-12, 2023

36 Contracts Signed

Thirty-six contracts were signed last week in Manhattan at $4 million and above, 5 more than the previous week, marking the largest total of the year--- and the largest total since May 9-15, 2022, when 39 contracts were signed. Condos outsold co-ops, 25-8, with 1 condop and 2 townhouses in the mix.

Stat Geek Alert: It was the third week in a row of double-digit negotiability-- the last 3 weeks averaged 12%. (The negotiability stat in this report is the difference between the original asking price and the last asking price before a property goes into contract.)

The No. 1 contract was Triplex at 165 Charles Street, asking $37 million, as reported in the Wall Street Journal. The seller is Alexis Stewart, daughter of lifestyle mogul Martha Stewart. The condo started on the market at $53 million in February 2019. Four units on the 12th, 14th and 15th floors (there is no 13th floor) were combined to form the Triplex; the units were purchased between 2006 and 2007 for a total of $35,467,922. The 9,607-square-foot unit includes 6 bedrooms, 6 bathrooms, 3 powder rooms, and 4 terraces that total 600 square feet. It features spectacular Hudson River views on all floors. Amenities include doormen, a fitness center, screening room, and a 50-foot pool.

The No. 2 contract was 10/11A at 133 East 80th Street, asking $13.995 million. The co-op duplex was originally listed in March 2022 for $16.75 million and taken off the market at the end of June. When it was re-listed at the end of last month, the price drop of $2.755 million seemed to do the trick, igniting a quick sale. The unit has 5 bedrooms, 5 bathrooms, and 2 powder rooms. The downstairs has a living room and library---both with fireplaces--a formal dining room, eat-in kitchen, and staff room. Upstairs are the bedrooms. The sellers purchased the unit for $10,289,700 in 2012 and extensively renovated. The co-op board allows 50% financing, and amenities include doormen and storage.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 3 3 0 2 Avg.Ask:
$7,366,875
8
Condos 3 7 4 11 Avg.Ask:
$7,602,900
Avg.$/sq.ft.:
$2,762/sq.ft.
Avg.Size:
2,753 sq.ft.
25
Condop* 0 0 0 1 Avg.Ask:
$4,000,000
Avg.$/sq.ft.:
$2,262/sq.ft.
Avg.Size:
1,768 sq.ft.
1
Townhouses 1 0 0 1 Avg.Ask:
$7,795,000
Avg.$/sq.ft.:
$2,224/sq.ft.
Avg.Size:
3,505 sq.ft.
2
TOTALS 7 10 4 15 . 36


*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 34 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW PAGE 2 OF 34 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 2 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 6-12, 2023
Total Weekly Asking Price Sales Volume: $268,997,500

Average Asking Price: $7,472,153

Median Asking Price: $5,872,500

Average Discount from Original Ask to Last Asking Price: 15%

Average Days on Market: 691









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

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