Fair Housing Notice

OLSHAN LUXURY MARKET REPORT
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
May 22-28, 2023

32 Contracts Signed

Thirty-two contracts were signed last week in Manhattan at $4 million and above, 5 more than the previous week. Condos outsold co-ops, 21-6, with 1 condop and 4 townhouses in the mix.

Stat Geek Alert I: The 32-contract total beats the 10-year average of 26 contracts for the week preceding Memorial Day.

Stat Geek Alert II: 14 out of the 21 condo contracts were sponsor deals.

The No. 1 contract was PH32A at 360 East 89th Street, asking $22.5 million; it sold within a month of listing. The triplex condo has 7,430 square feet including 6 bedrooms, 7.5 bathrooms, and a 2,529-square foot terrace. It features a living room with a 22-foot ceiling and views in all directions. Two parking spots were included in the deal. The seller paid $20,558,626 in 2018 in the building called Citizen 360. Amenities include doormen, garage, a fitness center, a residents'' lounge, catering kitchen, a screening room, a multi-media room, a children''s playroom, art studio, and a music room.

The No. 2 contract was a brownstone at 246 West 12th Street, asking $21.95 million. The seller paid $8.45 million in October 2018 and undertook a 4-year renovation. The 4-story house has 5,100 square feet including 5 bedrooms, 4.5 bathrooms, and 2 fireplaces. It does not have an elevator. Outdoor space totals 1,520 square feet including a garden, terrace off the master bedroom, and a roof garden. The renovation included excavation of cellar space to build a 28-foot media/recreation room, gym, wine room, laundry, and a powder room.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 4 1 1 0 Avg.Ask:
$7,708,000
6
Condos 4 5 5 7 Avg.Ask:
$8,1486,132
Avg.$/sq.ft.:
$2,487/sq.ft.
Avg.Size:
3,291 sq.ft.
21
Condop* 0 0 0 1 Avg.Ask:
$4,895,000
Avg.$/sq.ft.:
$2,863/sq.ft.
Avg.Size:
1,710 sq.ft.
1
Townhouses 0 1 1 2 Avg.Ask:
$10,611,250
Avg.$/sq.ft.:
$2,127/sq.ft.
Avg.Size:
4,988 sq.ft.
4
TOTALS 8 7 7 10 . 32


*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 28 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW PAGE 2 OF 28 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
May 22-28, 2023
Total Weekly Asking Price Sales Volume: $265,949,900

Average Asking Price: $8,310,934

Median Asking Price: $6,672,500

Average Discount from Original Ask to Last Asking Price: 6%

Average Days on Market: 700









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

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