Fair Housing Notice

OLSHAN LUXURY MARKET REPORT
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
January 1-7, 2024

17 Contracts Signed

Seventeen contracts were signed last week in Manhattan at $4 million and above, 7 more than the previous Christmas-New Year’s Eve week. Condos outsold co-ops, 12-4, with 1 townhouse in the mix.

The No. 1 contract was 69E at 217 West 57th Street, asking $24,500,000. 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. The building started marketing in 2018. There were 24 closings in 2023 (excluding 2 studio units) averaging $4,620/sq.ft. with an average size of 3,069 square feet.

The No. 2 contract was 40W at 50 West 66th Street, asking $16.5 million. The 2,816-square-foot condo has 3 bedrooms and 3.5 bathrooms. A 24’ x 22’ great room faces Central Park and opens onto a 139-square foot loggia. Amenities in the 122-unit condo include doormen, a fitness center, indoor lap pool, and an outdoor saltwater pool, plus a jacuzzi, basketball and pickleball courts, screening room, game room, bike room, and dog-washing facility. Closings in this new condo are expected sometime in 2024.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 2 0 1 1 Avg.Ask:
$5,861,250
4
Condos 2 3 2 5 Avg.Ask:
$9,073,750
Avg.$/sq.ft.:
$3,842/sq.ft.
Avg.Size:
2,362 sq.ft.
12
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 0 0 0 1 Avg.Ask:
$8,750,000
Avg.$/sq.ft.:
$1,441/sq.ft.
Avg.Size:
6,072 sq.ft.
1
TOTALS 4 3 3 7 . 17


*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 16 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
January 1-7, 2024
Total Weekly Asking Price Sales Volume: $141,080,000

Average Asking Price: $8,298,824

Median Asking Price: $5,995,000

Average Discount from Original Ask to Last Asking Price: 5%

Average Days on Market: 737









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

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