Fair Housing Notice

OLSHAN LUXURY MARKET REPORT
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
April 8-14, 2024

18 Contracts Signed

Eighteen contracts were signed at $4 million and above in Manhattan last week, 8 fewer than the previous week. Condos outsold co-ops, 14-2, and 2 townhouses were in the mix.

Stat Geek Alert: Last week’s 31% decline in total signed contracts was the first time the luxury market fell below 20 since the first week in January, when 17 deals were inked. Cause for concern? April is typically one of the strongest months of the year. For example, in the same week last year 26 contracts were signed, 41 contracts in 2022, and 47 contracts in 2021.

The No. 1 contract was PH3BC at 1965 Broadway, asking $15,995,000; it has been on and off the market since May 2022, starting as high as $19,995,000. The triplex penthouse condo has 6,867 square feet including 6 bedrooms, 6.5 bathrooms, and 2 terraces that total over 2,000 square feet. One of the terraces is outfitted with a kitchen. The unit features a 49-foot great room with city and Hudson River views. The building has a concierge/doormen. The seller paid $18,625,000 in December 2017.

The No. 2 contract was 11D at 10 Madison Square West, asking $12,500,00; it sold immediately after listing 2 weeks ago. The corner condo has 3,309 square feet including 4 bedrooms and 4.5 bathrooms, and features nearly 11-foot ceilings. A 37’ x 23’ great room, open kitchen, and master bedroom overlook Madison Square Park. Amenities include a concierge, doormen, a fitness center, 60-foot lap pool, hot tub, yoga and Pilates studios, a children’s playroom, a garden courtyard, and bike storage. The seller purchased the unit for $11,964,488 from the sponsor in 2016.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 1 0 0 1 Avg.Ask:
$6,997,500
2
Condos 2 4 2 6 Avg.Ask:
$7,596,607
Avg.$/sq.ft.:
$2,770 sq.ft.
Avg.Size:
2,742 sq.ft.
14
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 1 0 0 1 Avg.Ask:
$6,472,500
Avg.$/sq.ft.:
$1,660/sq.ft.
Avg.Size:
3,900 sq.ft.
2
TOTALS 4 4 2 8 . 18


*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 16 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
April 8-14, 2024
Total Weekly Asking Price Sales Volume: $133,292,500

Average Asking Price: $7,405,139

Median Asking Price: $6,995,000

Average Discount from Original Ask to Last Asking Price: 8%

Average Days on Market: 803









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

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