Fair Housing Notice

OLSHAN LUXURY MARKET REPORT
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
October 9-15, 2023

16 Contracts Signed

The luxury market slipped last week: It registered 16 contracts signed in Manhattan at $4 million and above, 10 fewer than the previous week. Condos outsold co-ops, 10-5, with 1 townhouse in the mix.

The No. 1 contract was West 28AD at 500 West 18th Street. asking $22,120,000. It is 2 units that will be combined by the sponsor and will total 5,355 square feet that offers Hudson River views, 6 bedrooms, 6 bathrooms, and 2 powder rooms. The combination was sold to a local buyer who missed out on another unit in the building. It is the 5th time this year that an apartment in the building took the top spot in this report, and it is particularly noteworthy because the building--originally called the XI, which launched in 2018--landed in a spectacular $1 billion-plus foreclosure. By 2021, the new sponsor, Witkoff, took over construction and rebranded the building. Now called One Highline, it offers a robust amenity package--a fitness center, 75-foot lap pool, spa-treatment rooms, a golf simulator, children''s playroom, private dining, a games lounge, and a garage. Services are offered from the adjacent Faena Hotel, which is part of the rebranded project.

The No. 2 contract was PH at 137 Duane Street, asking $18 million, reduced from $19.995 million when it was listed in April. The condo has 4,942 square feet including 4 bedrooms, 5 bathrooms, a den, and a screening room, plus 4 terraces totaling over 7,200 square feet. It features a landscaped rooftop terrace with an irrigated lawn, paved paths, and native grasses. The seller purchased the unit for $7,280,488 in February 2008 and spent years extensively renovating. The 5-story, 19-unit building has no amenities.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 3 1 0 1 Avg.Ask:
$7,609,000
5
Condos 3 2 1 4 Avg.Ask:
$10,142,375
Avg.$/sq.ft.:
$3,168/sq.ft.
Avg.Size:
3,202 sq.ft.
10
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 0 0 0 1 Avg.Ask:
$5,995,000
Avg.$/sq.ft.:
$2,379/sq.ft.
Avg.Size:
2,520 sq.ft.
1
TOTALS 6 3 1 6 . 16


*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 15 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
October 9-15, 2023
Total Weekly Asking Price Sales Volume: $145,463,750

Average Asking Price: $9,091,484

Median Asking Price: $5,995,000

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

Average Days on Market: 530









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

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