Fair Housing Notice

OLSHAN LUXURY MARKET REPORT
Report on Contracts Signed
Manhattan Residential Properties $4 Million and Above
May 12-18, 2025

31 Contracts Signed

Thirty-one contracts were signed last week in Manhattan at $4 million and above, 5 fewer than the previous week. Condos outsold co-ops, 15-12, and 4 townhouses were in the mix.

Stat Geek Alert I: For the first time since the first week of June 2021, the top 2 sales were co-ops. In addition, the total of 12 co-op sales is the largest since November 4-10, 2024, when 14 contracts were inked.

Stat Geek Alert II: In the last 2 weeks, the Upper East Side has outsold every other neighborhood of Manhattan including the ever-popular Downtown.

The No. 1 contract was the 10th floor of 1125 Fifth Avenue, asking $20 million; it was listed in September. The full-floor unit has 4 bedrooms, 4.5 bathrooms, and a library. It features a 47-foot-long great room overlooking Central Park and an eat-in kitchen. It is in excellent condition and was recently renovated and designed by the prominent architecture firm SheltonMindel. Monthly maintenance is $15,189. The 15-unit co-op allows up to $1.1 million in financing. Amenities include doormen and storage.

The No. 2 contract was the 14th floor at 620 Park Avenue, asking $19.75 million; it was listed in October. The duplex has 4 bedrooms, 3 bathrooms, 2 powder rooms, and 3 woodburning fireplaces. The living room, formal dining room, sitting room, and 2 bedrooms face Park Avenue. Upstairs on the 15th floor is a 24-foot entertainment room with vaulted ceilings, plus an office, pantry, and powder room---all surrounded by lushly landscaped terraces. The apartment comes with its own laundry room and 2 storage rooms in the basement of the building. The monthly maintenance is $19,597. Amenities in this 14-unit building include doormen, a gym, and a roof terrace for residents. The co-op board allows 50% mortgage financing.



. EAST SIDE WEST SIDE MIDTOWN DOWNTOWN Asking $/sq.ft. Totals
Co-ops 8 2 0 2 Avg.Ask:
$8,881,667
12
Condos 4 2 1 8 Avg.Ask:
$6,273,667
Avg.$/sq.ft.:
$2,705/sq.ft.
Avg.Size:
2,319 sq.ft.
15
Condop* 0 0 0 0 Avg.Ask:

Avg.$/sq.ft.:

Avg.Size:
0
Townhouses 2 0 0 2 Avg.Ask:
$7,387,500
Avg.$/sq.ft.:
$1,435/sq.ft.
Avg.Size:
5,149 sq.ft.
4
TOTALS 14 4 1 12 . 31


*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 27 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW PAGE 2 OF 27 CONTRACTS SIGNED ON APARTMENTS

CLICK HERE TO VIEW 4 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

© 2025 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
May 12-18, 2025
Total Weekly Asking Price Sales Volume: $829,185,000

Average Asking Price: $7,393,065

Median Asking Price: $5,995,000

Average Discount from Original Ask to Last Asking Price: 9%

Average Days on Market: 453









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