Fair Housing Notice

OLSHAN LUXURY MARKET REPORT
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
July 15-21, 2024

20 Contracts Signed

Twenty contracts were signed last week in Manhattan at $4 million and above, the same as the previous week. Condos outsold co-ops, 12-7, with 1 townhouse in the mix.

Stat Geek Alert: The 20 contracts almost matched the 10-year average of 21 contracts for the third week in July.

Stat Geek Alert II: Only 5 contracts were signed in new developments, the lowest number of sponsor sales since the last week in February, when 5 contracts were also signed.

The No. 1 contract was PH11 at 760 Madison Avenue, asking $32,500,000. This penthouse duplex is in the Giorgio Armani Residences and has 4,216 square feet including 4 bedrooms, 4.5 baths, and 3 balconies totaling 870 square feet. It is the fourth time this year that a unit in 760 Madison Avenue, designed by CookFox, has taken the top spot. Amenities include a doorman, fitness center, and residents’ lounge. The ground-floor retail space is occupied by the Armani store, and the designer plans to live in the building, which is finishing construction. The 10-unit, 12-story building quietly started marketing last summer and is now sold out, averaging $4,955/sq.ft.

The No. 2 contract was 65E at 217 West 57th Street, asking $23,433,000. The apartment has nearly 11-foot-high ceilings and 3,364 square feet that includes 3 bedrooms and 3.5 bathrooms. The great room faces north and east with views of Central Park; the rest of the rooms face east and south with city views.

The unit is in Central Park Tower, a 1,550-foot-tall skyscraper with 179 units and over 50,000 square feet of amenities including indoor and outdoor pools, a fitness center, and a children’s playroom, plus a club room with a ballroom, bar, dining facilities, and a cigar lounge.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 3 4 0 0 Avg.Ask:
$6,932,857
7
Condos 3 1 3 5 Avg.Ask:
$10,376,913
Avg.$/sq.ft.:
$3,536/sq.ft.
Avg.Size:
2,935 sq.ft.
12
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 1 0 0 0 Avg.Ask:
$7,995,000
Avg.$/sq.ft.:
$1,313/sq.ft.
Avg.Size:
6,090 sq.ft.
1
TOTALS 7 5 3 5 . 20


*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 19 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 1 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
July 15-21, 2024
Total Weekly Asking Price Sales Volume: $181,047,950

Average Asking Price: $9,052,398

Median Asking Price: $6,997,475

Average Discount from Original Ask to Last Asking Price: 11%

Average Days on Market: 590









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

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