Fair Housing Notice

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

24 Contracts Signed

Twenty-four contracts were signed last week in Manhattan at $4 million and above, 7 more than the previous week. Condos outsold co-ops, 11-10, with 1 condop and 2 townhouses in the mix.

The No. 1 contract was a townhouse at 135 West 11th Street, asking $32 million; it was quietly marketed over the last year and not posted on any public websites or in any multiple listing service. In excellent condition, this 5-story townhouse has 6,998 square feet including 5 bedrooms, 5 bathrooms, 3 powder rooms, 2 fireplaces, an elevator, a 462-square foot patio/garden, and 2 terraces on the top floor. The house is in The Greenwich Lane, a 5-building complex comprised of 193 condos and 5 townhouses. Amenities include a concierge, doorman, parking, fitness center, a 25-meter swimming pool, golf simulator, garden, residents’ lounge, and children’s playroom. The seller bought the unit from the sponsor for $21,894,506 in March 2019. Monthly common charges are $21,786 and annual real estate taxes total $99,062.

The No. 2 contract was PH at 993 Fifth Avenue, asking $19.95 million, reduced from $39.5 million when it was listed at the end of June 2021. The duplex penthouse was originally under contract in March, but the buyer was rejected by the co-op board and by June, it was back on the market. The apartment has 12 rooms including 4 bedrooms and 4.5 bathrooms. The downstairs entertaining space features a 40-foot living room, gallery, and formal dining room—all opening onto a 51-foot terrace overlooking Central Park. Upstairs are 3 bedrooms surrounded by terraces. Online web photos show a mix of staged and virtually-staged shots, but the unit needs to be completely renovated. Amenities in the building include doormen, fitness center, and storage. The co-op board does not allow mortgage financing.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 7 3 0 0 Avg.Ask:
$8,912,500
10
Condos 1 1 2 7 Avg.Ask:
$6,576,818
Avg.$/sq.ft.:
$2,654/sq.ft.
Avg.Size:
2,478 sq.ft.
11
Condop* 0 0 0 1 Avg.Ask:
$5,445,000
Avg.$/sq.ft.:
$2,892/sq.ft.
Avg.Size:
1,883 sq.ft.
1
Townhouses 0 1 0 1 Avg.Ask:
$19,250,000
Avg.$/sq.ft.:
$3,209/sq.ft.
Avg.Size:
5,999 sq.ft.
2
TOTALS 8 5 2 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 22 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
December 4-10, 2023
Total Weekly Asking Price Sales Volume: $205,415,000

Average Asking Price: $8,558,958

Median Asking Price: $6,922,500

Average Discount from Original Ask to Last Asking Price: 16%

Average Days on Market: 526









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

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