Fair Housing Notice

OLSHAN LUXURY MARKET REPORT
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
July 10-16, 2023

24 Contracts Signed

Twenty-four contracts were signed last week in Manhattan at $4 million and above, one more than the previous week. Condos outsold co-ops, 15-3, and 6 townhouses were in the mix.

Stat Geek Alert: Although it wasn’t a gangbuster week in total sales, get this: 10 contracts were signed at $10 million and above, the biggest week in trophy sales since the last week in April, when 11 were signed.

The No. 1 contract was PH17/18D at 740 Park Avenue, asking $25 million, reduced from $39.5 million when it started on the market in April 2018 and then cycled through 2 brokerage firms. The duplex co-op has 3 bedrooms, 3.5 bathrooms, 3 fireplaces, and 5 terraces. It features a sweeping staircase and 12-foot-high ceilings with south, north, and west views of Central Park. The seller is John Thain, the former CEO of Merrill Lynch and the New York Stock Exchange as well as the former President of Goldman Sachs, who paid $27.5 million in June 2006. The co-op does not allow mortgage financing and is known for its large apartments and famous, wealthy residents; it was the subject of a book published in 2005 called 740 Park by Michael Gross. Amenities include a doorman, gym, and storage.

The No. 2 contract was 452 Greenwich Street, a Tribeca townhouse asking $24.5 million; it was listed in May. The seller purchased it for $5.65 million in 2003. The 4-story 25-foot-wide house has 7,500 square feet including 5 bedrooms, 6 bathrooms, 3 fireplaces, an elevator, and a garage. It has a 2,500-bottle wine cellar and a 1,200-square-foot rooftop terrace.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 2 0 1 0 Avg.Ask:
$13,283,333
3
Condos 2 5 2 6 Avg.Ask:
$7,877,600
Avg.$/sq.ft.:
$2,718/sq.ft.
Avg.Size:
2,898 sq.ft.
15
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 0 3 0 3 Avg.Ask:
$14,824,167
Avg.$/sq.ft.:
$2,142/sq.ft.
Avg.Size:
6,921 sq.ft.
6
TOTALS 4 8 3 9 . 24


*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 18 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 6 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 10-16, 2023
Total Weekly Asking Price Sales Volume: $246,959,000

Average Asking Price: $10,289,958

Median Asking Price: $8,200,000

Average Discount from Original Ask to Last Asking Price: 12%

Average Days on Market: 678









© 2024 Olshan Realty, Inc. | All Rights Reserved. | Established 1980
641 Lexington Avenue, Suite 2200, New York, NY 10022 | 212-751-3300 | Privacy Policy

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

. . . .