Fair Housing Notice

LUXURY MARKET REPORT 2022
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
January 10-16, 2022

25 Contracts Signed

Twenty-five contracts were signed last week in Manhattan at $4 million and above, 4 more than the previous week---a solid performance for the middle of January. Condos outsold co-ops, 17 to 6, and 2 townhouses were in the mix.

The No. 1 contract was a townhouse at 53 Downing Street, asking $15.7 million, reduced from $23 million when it was listed in January 2018. The house was purchased for $7.1 million in June 2014 and then gut renovated. It has 8,260 square feet on 5 floors including 5 bedrooms, 5 bathrooms, 3 powder rooms, 6 terraces, an elevator, and garage. The living room has 14-foot ceilings that open onto a conservatory.

The No. 2 contract was 3AC at 11 East 73rd Street, asking $12 million; it sold within days of listing. It has 2 bedrooms, a library, 3.5 bathrooms, 2 fireplaces, and is the largest and only full-floor unit in this limestone mansion that was once the former home of publisher Joseph Pulitzer. Other details include 15-foot ceilings and French doors that open onto balustrades overlooking 73rd Street as well as a master bedroom with a 23-foot terrace. The 79-foot-wide house was designed by architect Stanford White in Venetian-style palazzo architecture and was completed in 1903 at a cost of $369,000. In 1933, the Pulitzer heirs converted the building into apartments and retained many of the interior details. In 1952, it was converted into a co-op that still does not permit mortgage financing and only has a part-time doorman.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 5 0 0 1 Avg.Ask:
$8,220,833
6
Condos 4 6 0 7 Avg.Ask:
$5,810,000
Avg.$/sq.ft.:
$2,498/sq.ft.
Avg.Size:
2,326 sq.ft.
17
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 1 0 0 1 Avg.Ask:
$13,849,000
Avg.$/sq.ft.:
$2,013/sq.ft.
Avg.Size:
6,880 sq.ft.
2
TOTALS 10 6 0 9 . 25


*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 23 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



Source: Olshan Realty




QUICK STATS

for the week of
January 10-16, 2022
Total Weekly Asking Price Sales Volume: $175,793,000

Average Asking Price: $7,031,720

Median Asking Price: $6,450,000

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

Average Days on Market: 563









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